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Medical Indemnity (Prudential Supervision and Product Standards) Bill 2003


Previous citations:

Medical Indemnity (Prudential Supervision and Product Standards) Bill 2002



Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Introduced with the Medical Indemnity (Prudential Supervision and Product Standards) (Consequential Amendments) Bill 2002 and further to the package of bills implementing the framework for medical indemnity insurance, the bill provides for: medical indemnity cover only to be provided by general insurers and only under contracts of insurance, which will ensure that providers are subject to appropriate prudential supervision by the Australian Prudential Regulation Authority; transitional arrangements for current providers to meet minimum capital requirements; minimum product standards for medical indemnity insurance contracts; compulsory retroactive cover; and anti-avoidance provisions. Also contains a regulation-making power.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 12/12/02  
Second reading moved 12/12/02  
Second reading agreed to 24/03/03  
Consideration in detail debate 24/03/03 Amendment details: 25 Government agreed to
Third reading agreed to 24/03/03  
     
Senate
Introduced and read a first time 26/03/03  
Second reading moved 26/03/03  
Second reading amendment agreed to 26/03/03 Details: 1 Opposition agreed to
Second reading agreed to 26/03/03  
Third reading agreed to 26/03/03  
     
Assent 02/05/03 Act no.: 37 - Year: 2003
     

Text of bill

  • First reading

MS-Word PDF HTML
  • Third reading

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory Memorandum

MS-Word PDF HTML
  • Revised Explanatory Memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

  • (HoR) Government 1

MS-Word PDF HTML

Schedules of amendments

Bills Digest



Notes
  • An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)