Financial Sector (Collection of Data) Act 2001
5AMedical indemnity entities
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5A Medical indemnity entities
This section applies to a corporation at a particular time if: (a) the corporation is a financial corporation formed within the limits of Australia; and (b) an arrangement under which medical indemnity cover is provided for a health care professional was entered into before 1 July 2003; and (c) the arrangement was not effected by means of a contract of insurance; and (d) the corporation may pay, or may have to pay, an amount under the arrangement at some time after that time. Expressions used in paragraph (b) have the same meaning as they have in the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003.