Commonwealth legislation

Insurance (Agents and Brokers) Repeal Regulations 2002

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

17 of 2002

Collection

legislative instrument

Plain English Summary

1/10 complexity

What this does: This instrument is a legislative cleanup job. It repeals (cancels) 12 old sets of regulations that governed insurance agents and brokers under the now-defunct Insurance (Agents and Brokers) Act 1984.

Who it affects: Insurance intermediaries (agents and brokers) who were previously regulated under the old 1984 Act. For these businesses, this removal of outdated rules reduced compliance clutter.

Why it matters: This is part of the transition to the Financial Services Reform Act 2001, which replaced the old patchwork of insurance-specific laws with a modern licensing system for all financial services. By repealing these regulations from 1985–1998, the government eliminated superseded compliance requirements that had become redundant (legal deadwood) when the new regime took effect.

In short: It’s the legislative equivalent of shredding old filing cabinets that are no longer needed because the new system took over.

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Insurance (Agents and Brokers) Repeal Regulations 2002

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Insurance (Agents and Brokers) Repeal Regulations 2002

Statutory Rules 2002 No. 171

I, PETER JOHN HOLLINGWORTH, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Insurance (Agents and Brokers) Act 1984.

Dated 14 February 2002

PETER HOLLINGWORTH

Governor-General

By His Excellency’s Command

IAN CAMPBELL

Parliamentary Secretary to the Treasurer

1 Name of Regulations

These Regulations are the Insurance (Agents and Brokers) Repeal Regulations 2002.

2 Commencement

These Regulations commence on the commencement of item 1 of Schedule 1 to the Financial Services Reform Act 2001.

3 Insurance (Agents and Brokers) Regulations — repeal

The following Statutory Rules are repealed:

 1985 Nos. 367 and 368

 1986 No. 351

 1987 No. 339

 1989 No. 277

 1990 No. 447

 1994 No. 325

 1995 No. 57

 1996 No. 303

 1997 Nos. 225 and 237

 1998 Nos. 77 and 190.

Note

Note: 1. Notified in the Commonwealth of Australia Gazette on 21 February 2002.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Insurance (Agents and Brokers) Repeal Regulations 2002

Insurance (Agents and Brokers) Repeal Regulations 2002

Statutory Rules 2002 No. 171

Dated 14 February 2002

PETER HOLLINGWORTH

Governor-General

By His Excellency’s Command

IAN CAMPBELL

Parliamentary Secretary to the Treasurer

1 Name of Regulations

These Regulations are the Insurance (Agents and Brokers) Repeal Regulations 2002.

2 Commencement

These Regulations commence on the commencement of item 1 of Schedule 1 to the Financial Services Reform Act 2001.

3 Insurance (Agents and Brokers) Regulations — repeal

The following Statutory Rules are repealed:

 1985 Nos. 367 and 368

 1986 No. 351

 1987 No. 339

 1989 No. 277

 1990 No. 447

 1994 No. 325

 1995 No. 57

 1996 No. 303

 1997 Nos. 225 and 237

 1998 Nos. 77 and 190.

Note

Note: 1. Notified in the Commonwealth of Australia Gazette on 21 February 2002.