239ADMinister may make declaration as to significant terrorism-related liabilities

239AD Minister may make declaration as to significant terrorism-related liabilities

239AD Minister may make declaration as to significant terrorism-related liabilities

(1) The Minister may, by order published in the Gazette, declare that an act of terrorism specified in the declaration has given rise to significant terrorism-related liabilities.

(2) The Minister may not make such a declaration unless—

(a) an insurer has requested the Minister to do so, and

(b) the Minister is satisfied that—

(i) an act of terrorism occurred after 4pm on 30 June 2002 or at any time on any day after that date, and

(ii) the act of terrorism has given rise to liabilities (whether liabilities of one or more self-insurers, or liabilities under policies of insurance issued or renewed by one or more insurers that are not self-insurers, or both) for payment of amounts that, in total, exceed the threshold amount.

ss 239AA–239AD: Ins 2002 No 123, Sch 1.