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Wednesday, 9 May 1984
Page: 1814


Senator GARETH EVANS (Attorney-General)(12.34) —by leave-In relation to these clauses I move what I hope are two uncontroversial amendments:

(3) Page 22, clause 58, at the end of the clause, add the following sub-clause:

'(4) Where a contract of insurance is in force by virtue of sub-section (3)-

(a) except in a case to which paragraph (b) applies, no premium is payable in respect of the contract; but

(b) if a claim is made under the contract, there is payable by the insured to the insurer, as a premium in respect of the contract, an amount ascertained in accordance with the formula-

A B,

C where-

A is the number of days in the period that commenced on the day on which the contract came into force and ended on the day on which the claim was made;

B is the amount that, if the original contract had been renewed for the same period and on the same terms and conditions (including the same subject-matter and risk), would have been payable by the insured in respect of the renewal; and

C is the number of days in the period of the original contract.'.

(40) Page 21, clause 58, sub-clause (2), line 32, leave out '21', insert '14'.

Amendments agreed to.

Clauses, as amended, agreed to.

Clause 60 (Cancellation of contracts of general insurance).