259What insurance is exempt from duty?

259 What insurance is exempt from duty?

259 What insurance is exempt from duty?

(1) The following insurances are exempt from duty under this Chapter—

(a) insurance covering only property of the Crown in right of New South Wales (including a statutory body representing the Crown in right of New South Wales),

(b) insurance effected by a separate policy in a distinct sum against loss by fire on the tools, implements of work or labour used by any working mechanic, artificer, handcrafter or labourer,

(c) insurance taken out by or on behalf of a non-profit organisation having as one of its objects a charitable, benevolent, philanthropic or patriotic purpose,

(d) insurance taken out by or on behalf of a society or institution for the time being approved for the purposes of this paragraph by the Chief Commissioner whose resources are, in accordance with its rules or objects, used wholly or predominantly for—

(i) the relief of poverty, or

(ii) the promotion of education, or

(iii) any purpose directly or indirectly connected with defence or the amelioration of the condition of past or present members of the naval, military or air forces of the Commonwealth or their dependants or any other patriotic object, or

(iv) such other purpose as, in the opinion of the Chief Commissioner, warrants the society or institution being taken to be a charitable society or institution,

(e) insurance covering mortgages or pools of mortgages acquired for the purpose of issuing mortgage-backed securities,

(f) insurance effected by a contract of insurance issued by a private health insurer, within the meaning of the Private Health Insurance Act 2007 of the Commonwealth, that covers the provision of—

(i) hospital benefits or medical benefits or both, whether or not other benefits are also provided, or

(ii) ambulance services, being services relating to the work of rendering first aid to, and the transport of, sick and injured persons,

(g) insurance effected under the Workers Compensation Act 1987 or the ,