Authorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au
Australian Capital Territory
Insurance Authority Act 2005
A2005-24
Republication No 6
Effective: 16 November 2025
Republication date: 16 November 2025
Last amendment made by A2025-29
Authorised by the ACT Parliamentary Counsel—also accessible at www.legislation.act.gov.au
About this republication
The republished law
This is a republication of the Insurance Authority Act 2005 (including any amendment made
under the Legislation Act 2001, part 11.3 (Editorial changes)) as in force on 16 November 2025.
It also includes any commencement, amendment, repeal or expiry affecting this republished law
to 16 November 2025.
The legislation history and amendment history of the republished law are set out in endnotes 3
and 4.
Kinds of republications
The Parliamentary Counsel’s Office prepares 2 kinds of republications of ACT laws (see the ACT
legislation register at www.legislation.act.gov.au):
• authorised republications to which the Legislation Act 2001 applies
• unauthorised republications.
The status of this republication appears on the bottom of each page.
Editorial changes
The Legislation Act 2001, part 11.3 authorises the Parliamentary Counsel to make editorial
amendments and other changes of a formal nature when preparing a law for republication.
Editorial changes do not change the effect of the law, but have effect as if they had been made by
an Act commencing on the republication date (see Legislation Act 2001, s 115 and s 117). The
changes are made if the Parliamentary Counsel considers they are desirable to bring the law into
line, or more closely into line, with current legislative drafting practice.
This republication includes amendments made under part 11.3 (see endnote 1).
Uncommenced provisions and amendments
If a provision of the republished law has not commenced, the symbol U appears immediately
before the provision heading. Any uncommenced amendments that affect this republished law
are accessible on the ACT legislation register (www.legislation.act.gov.au). For more
information, see the home page for this law on the register.
Modifications
If a provision of the republished law is affected by a current modification, the
symbol M appears immediately before the provision heading. The text of the modifying
provision appears in the endnotes. For the legal status of modifications, see the Legislation
Act 2001, section 95.
Penalties
At the republication date, the value of a penalty unit for an offence against this law is $160 for an
individual and $810 for a corporation (see Legislation Act 2001, s 133).
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contents 1
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Australian Capital Territory
Insurance Authority Act 2005
Contents
Page
Part 1 Preliminary
1 Name of Act 2
3 Dictionary 2
4 Notes 2
5 Meaning of territory risk 2
6 Meaning of territory entity 3
Part 2 The insurance authority
7 The authority 5
8 Functions of authority 5
10 Information etc from agencies 6
11 Indemnities for third parties 6
12 Advisory board for authority 7
Contents
Page
contents 2 Insurance Authority Act 2005
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Part 3 Territory risks
13 Ministerial directions to agencies about territory risks 8
Part 4 Miscellaneous
14 Insurance management guidelines 9
15 Approved forms 9
16 Regulation-making power 9
Dictionary 10
Endnotes
1 About the endnotes 11
2 Abbreviation key 11
3 Legislation history 12
4 Amendment history 13
5 Earlier republications 14
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Australian Capital Territory
Insurance Authority Act 2005
An Act to make provision about the Australian Capital Territory Insurance
Authority, and for other purposes
Part 1 Preliminary
Section 1
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Part 1 Preliminary
1 Name of Act
This Act is the Insurance Authority Act 2005.
3 Dictionary
The dictionary at the end of this Act is part of this Act.
Note 1 The dictionary at the end of this Act defines certain terms used in this
Act, and includes references (signpost definitions) to other terms defined
elsewhere in this Act.
For example, the signpost definition ‘territory risk—see section 5.’
means that the term ‘territory risk’ is defined in that section.
Note 2 A definition in the dictionary (including a signpost definition) applies to
the entire Act unless the definition, or another provision of the Act,
provides otherwise or the contrary intention otherwise appears (see
Legislation Act, s 155 and s 156 (1)).
4 Notes
A note included in this Act is explanatory and is not part of this Act.
Note See the Legislation Act, s 127 (1), (4) and (5) for the legal status of notes.
5 Meaning of territory risk
For this Act, a territory risk is any risk of the Territory, and
includes—
(a) a direct risk of the Territory or a territory entity; and
(b) a risk accepted by the Territory or a territory entity; and
(c) a risk arising under a guarantee or indemnity given by the
Territory or a territory entity;
whether or not the risk relates to an officer, employee or agent of the
Territory or a territory entity or to property owned by or held on
behalf of the Territory or a territory entity.
Preliminary Part 1
Section 6
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6 Meaning of territory entity
(1) In this Act:
territory entity means—
(a) a territory authority; or
(b) a public sector company.
(2) In this section:
controlling interest—the Territory or a territory entity has a
controlling interest in a company if its interest in the company is of
a kind that—
(a) it can—
(i) control the composition of the board of directors of the
company; or
(ii) cast, or control the casting of, more than 50% of the
maximum number of votes that might be cast at a general
meeting of the company; or
(iii) control more than 50% of the issued share capital of the
company (excluding any part of the issued share capital
that carries no right to participate beyond a particular
amount in a distribution of either profits or capital); or
(b) if paragraph (a) does not apply—no-one else holds a greater
interest in the company.
public sector company means—
(a) a territory-owned corporation; or
(b) a subsidiary of a territory-owned corporation; or
(c) a company prescribed by regulation; or
(d) any other company in which the Territory or another territory
entity has a controlling interest.
Part 1 Preliminary
Section 6
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subsidiary, of a territory-owned corporation, means a subsidiary
under the Territory-owned Corporations Act 1990 of the
territory-owned corporation.
The insurance authority Part 2
Section 7
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Part 2 The insurance authority
Note for pt 2
The governance of territory authorities, including the insurance authority,
is regulated by the Financial Management Act 1996 (the FMA), pt 9 as
well as the Act that establishes them.
The FMA, pt 9 deals, for example, with the corporate status of territory
authorities and their powers, the make-up of governing boards, the
responsibilities of the governing board and board members, how
governing board positions can be ended, meetings of governing boards
and conflicts of interest.
7 The authority
(1) The Australian Capital Territory Insurance Authority is established.
Note 1 The authority is a corporation (see Financial Management Act 1996, s 54,
s 72, def relevant territory authority, and s 73).
Note 2 The Legislation Act, dict, pt 1, defines establish as including continue in
existence.
(2) The director-general is the authority.
8 Functions of authority
The authority has the following functions:
(a) to carry on the business of insurer of territory risks;
(b) to take out insurance of territory risks with other entities;
(c) to satisfy or settle claims in relation to territory risks (including
claims that may not necessarily be valid in law);
(d) with the Treasurer’s approval, to take action for the realising,
enforcing, assigning or extinguishing rights against third parties
arising out of or in relation to its business, including, for
example—
(i) taking possession of, dealing with or disposing of,
property; or
Part 2 The insurance authority
Section 10
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(ii) carrying on a third party’s business as a going concern;
(e) to develop and promote good practices for the management of
territory risks;
(f) to give advice to the Minister about insurance and the
management of territory risks;
(g) to exercise any other function given to it under this Act or
another territory law.
Note A provision of a law that gives an entity (including a person) a function
also gives the entity powers necessary and convenient to exercise the
function (see Legislation Act, s 196 and dict, pt 1, def entity).
10 Information etc from agencies
(1) The authority may ask an agency, or make arrangements with an
agency for it, to give the authority information, or a copy of a
document, in the agency’s possession or control for the exercise of its
functions.
(2) The agency must comply with the request or arrangement.
(3) In this section:
agency means—
(a) an administrative unit; or
(b) a territory entity.
11 Indemnities for third parties
(1) The authority may give an indemnity to a third party for a territory
risk arising under a contract to which the Territory or a territory entity
is a party only if the Minister has certified that the giving of the
indemnity by the authority is in the Territory’s interest.
The insurance authority Part 2
Section 12
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(2) In this section:
third party means an entity other than the Territory or a territory
entity.
12 Advisory board for authority
(1) The insurance management guidelines must provide for the
establishment of an advisory board for the authority.
(2) The authority must establish the advisory board in accordance with
the insurance management guidelines.
Part 3 Territory risks
Section 13
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Part 3 Territory risks
13 Ministerial directions to agencies about territory risks
(1) The Minister may give a written direction to an agency in relation to
any of the following:
(a) the management of territory risks;
(b) the insurance of territory risks, including, for example—
(i) what territory risks must or may be insured with the
authority; and
(ii) what territory risks must or may be insured with other
entities.
(2) A direction under this section is a disallowable instrument.
(3) An agency must comply with a direction given to it under this section.
(4) For the Competition and Consumer Act 2010 (Cwlth), this Act
authorises—
(a) the giving of a direction under this section; and
(b) the doing of, or the failure to do, anything by the Territory, an
agency or the authority to comply with a direction under this
section.
(5) In this section:
agency—see section 10 (3).
Miscellaneous Part 4
Section 14
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Part 4 Miscellaneous
14 Insurance management guidelines
(1) The Treasurer may make insurance management guidelines for this
Act.
(2) Without limiting subsection (1), an insurance management guideline
may make provision for the membership and functions of the
advisory board under section 12.
(3) An insurance management guideline is a disallowable instrument.
15 Approved forms
(1) The Minister may, in writing, approve forms for this Act.
(2) If the Minister approves a form for a particular purpose, the approved
form must be used for that purpose.
(3) An approved form is a notifiable instrument.
16 Regulation-making power
The Executive may make regulations for this Act.
Dictionary
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Dictionary
(see s 3)
Note 1 The Legislation Act contains definitions and other provisions relevant to
this Act.
Note 2 For example, the Legislation Act, dict, pt 1, defines the following terms:
• administrative unit
• director-general (see s 163)
• entity
• Minister (see s 162)
• territory authority
• territory-owned corporation
• the Territory
• Treasurer.
authority means the Australian Capital Territory Insurance
Authority.
insurance includes reinsurance and coinsurance.
insurance management guideline means a guideline made under
section 14.
territory entity—see section 6.
territory risk—see section 5.
Endnotes
About the endnotes 1
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Endnotes
1 About the endnotes
Amending and modifying laws are annotated in the legislation history and the
amendment history. Current modifications are not included in the republished law
but are set out in the endnotes.
Not all editorial amendments made under the Legislation Act 2001, part 11.3 are
annotated in the amendment history. Full details of any amendments can be
obtained from the Parliamentary Counsel’s Office.
Uncommenced amending laws and expiries are listed in the legislation history and
the amendment history. These details are underlined. Uncommenced provisions
and amendments are not included in the republished law but are set out in the last
endnote.
If all the provisions of the law have been renumbered, a table of renumbered
provisions gives details of previous and current numbering.
The endnotes also include a table of earlier republications.
2 Abbreviation key
A = Act NI = Notifiable instrument
AF = Approved form o = order
am = amended om = omitted/repealed
amdt = amendment ord = ordinance
AR = Assembly resolution orig = original
ch = chapter par = paragraph/subparagraph
CN = Commencement notice pres = present
def = definition prev = previous
DI = Disallowable instrument (prev...) = previously
dict = dictionary pt = part
disallowed = disallowed by the Legislative r = rule/subrule
Assembly reloc = relocated
div = division renum = renumbered
exp = expires/expired R[X] = Republication No
Gaz = gazette RI = reissue
hdg = heading s = section/subsection
IA = Interpretation Act 1967 sch = schedule
ins = inserted/added sdiv = subdivision
LA = Legislation Act 2001 SL = Subordinate law
LR = legislation register sub = substituted
LRA = Legislation (Republication) Act 1996 underlining = whole or part not commenced
mod = modified/modification or to be expired
Endnotes
3 Legislation history
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3 Legislation history
Insurance Authority Act 2005 A2005-24
notified LR 11 May 2005
s 1, s 2 commenced 11 May 2005 (LA s 75 (1))
remainder commenced 12 May 2005 (s 2)
as amended by
Financial Management Legislation Amendment Act 2005 A2005-52
sch 1 pt 1.11
notified LR 26 October 2005
s 1, s 2 commenced 26 October 2005 (LA s 75 (1))
sch 1 pt 1.11 commenced 1 January 2006 (s 2 (2))
Fair Trading (Australian Consumer Law) Amendment Act 2010
A2010-54 sch 3 pt 3.12
notified LR 16 December 2010
s 1, s 2 commenced 16 December 2010 (LA s 75 (1))
sch 3 pt 3.12 commenced 1 January 2011 (s 2 (1))
Administrative (One ACT Public Service Miscellaneous Amendments)
Act 2011 A2011-22 sch 1 pt 1.84
notified LR 30 June 2011
s 1, s 2 commenced 30 June 2011 (LA s 75 (1))
sch 1 pt 1.84 commenced 1 July 2011 (s 2 (1))
Statute Law Amendment Act 2025 A2025-29 sch 3 pt 3.50, sch 4
pt 4.98
notified LR 6 November 2025
s 1, s 2 commenced 6 November 2025 (LA s 75 (1))
sch 3 pt 3.50, sch 4 pt 4.98 commenced 26 November 2025 (s 2 (3),
(9))
Endnotes
Amendment history 4
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4 Amendment history
Commencement
s 2 om LA s 89 (4)
Meaning of territory entity
s 6 am A2025-29 amdt 3.170, amdt 3.171
The insurance authority
pt 2 hdg sub A2005-52 amdt 1.144
The authority
s 7 am A2005-52 amdt 1.145, amdt 1.146; ss renum A2005-52
amdt 1.147; A2011-22 amdt 1.258, amdt 1.259
Functions of authority
s 8 am A2025-29 amdt 4.98
Powers of authority generally
s 9 om A2005-52 amdt 1.148
Ministerial directions to agencies about territory risks
s 13 am A2010-54 amdt 3.34; A2025-29 amdt 4.98
Insurance management guidelines
s 14 am A2025-29 amdt 4.98
Approved forms
s 15 am A2025-29 amdt 4.98
Regulation-making power
s 16 am A2025-29 amdt 4.98
Consequential and transitional matters
pt 5 hdg exp 12 May 2006 (s 21)
Legislation repealed
s 17 om LA s 89 (3)
Continuation of ACTIA
s 18 exp 12 May 2006 (s 21 (LA s 88 declaration applies))
References to repealed Act
s 19 exp 12 May 2006 (s 21)
Modification of pt 5’s operation
s 20 exp 12 May 2006 (s 21)
Expiry of pt 5
s 21 exp 12 May 2006 (s 21)
Dangerous Substances Act 2004, section 47C (b) and (c)
s 22 om LA s 89 (3)