Corporations Regulations 2001

For subparagraph 761G(5)(b)(i) of the Act, a motor vehicle insurance product is a contract or part of a contract that provides insurance cover (whether or not the cover is limited or restricted in any way) in respect of one or more of the following:

loss of, or damage to, a motor vehicle;

liability for loss of, or damage to, property caused by or resulting from impact of a motor vehicle with some other thing.

A motor vehicle insurance product does not include:

insurance to or in relation to which the Marine Insurance Act 1909 applies; or

insurance entered into, or proposed to be entered into, for the purposes of a law (including a law of a State or Territory) that relates to:

workers’ compensation; or

compulsory third party compensation.

In this regulation:

to travel by road; and

to use volatile spirit, steam, gas, oil, electricity or any other power (not being human power or animal power) as its principal means of propulsion; and

to carry passengers;

However, a motor vehicle does not include:

an omnibus; or

a tram; or

a motor vehicle the carrying capacity of which exceeds 2 tonnes.