6Approved causes of loss

6 Approved causes of loss

EFIC declares the following causes of loss to be approved causes of loss for the purposes of Part 4 of the Act: (a) expropriation, nationalisation or confiscation of property or any other right or benefit; (b) prevention or restriction of, or imposing requirements on, constructing, operating or dealing with property; (c) damage to, or loss of effective control over, property caused by a war-like operation; (d) inability to transfer money to another country or convert money to another currency and currency depreciation; (e) breach of contractual obligations; (f) inability to perform a contract due to external causes; (g) selective discrimination; (h) amending or removing (without replacement) or failing to issue any licence, permission, approval, right or benefit; (i) imposing requirements or impediments in relation to the acquisition or supply of goods and services (including tender processes), access to public resources or other business operations; (j) preventing or hindering the ability to benefit from the decisions of any court, tribunal, government or regulatory bodies or other authorities; and (k) a judicial or parliamentary act of taxation.