3ACertain insurance contracts not taken to be insurance business

#### 3A Certain insurance contracts not taken to be insurance business (1) For the purposes of this Act, insurance business does not include undertaking liability under a contract of insurance, or a kind of contract of insurance: (a) specified in the regulations for the purposes of this subsection; or (b) in circumstances specified in the regulations for the purposes of this subsection. (2) Without limiting subsection (1), the regulations may specify a contract of insurance, a kind of contract of insurance, or circumstances, by reference to: (a) particular general insurance products (within the meaning of the Corporations Act 2001), or particular kinds of such products; or (b) particular persons, or particular kinds of persons, who are insured under a contract of insurance, or a kind of contract of insurance. (3) Without limiting subsection (1): (a) the regulations may specify a contract of insurance, a kind of contract of insurance, or circumstances, by reference to: (i) a decision of APRA or a person; or (ii) a certificate or other document issued by APRA or a person; and (b) if the regulations do so—the regulations may impose obligations on APRA or the person in relation to the decision, certificate or other document.