7Direction to give special consideration to specified matters

7 Direction to give special consideration to specified matters

Under subsection 95ZH(1) of the Act, the Commission is directed to give special consideration, to: (a) the object of this instrument; and (b) monitoring the prices, costs and profits relating to the supply of covered insurance policies (regardless of when the policies were entered into) before and after the introduction of a cyclone and related flood damage reinsurance pool; and (c) not monitoring the prices, costs and profits relating to the supply of insurance cover unrelated to the supply of covered insurance policies; in exercising its powers and performing its functions under Part VIIA of the Act in relation to the direction in section 6.