37AApplication of this Division

#### 37A Application of this Division (1) This Division applies in relation to a contract of insurance (in this Division called a prescribed contract) if: (a) the contract is included in a class of contracts of insurance declared by the regulations to be a class of contracts in relation to which this Division applies; and (b) the contract was entered into after the day on which those regulations were made. (2) However, this Division does not apply in relation to a prescribed contract at any time before the transition time for the prescribed contract. (3) Also, this Division does not affect the operation of a prescribed contract in relation to an event that occurred before the transition time for the prescribed contract. (4) In this section: > transition time, for a prescribed contract, means the time when regulations made for the purposes of paragraph (1)(a), declaring a class of contracts of insurance including the contract to be a class of contracts in relation to which this Division applies, commence.