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The Motor Accidents Authority constituted under Part 8.1 of this Act is a continuation of, and the same legal entity as, the Motor Accidents Authority constituted under Part 7 of the 1988 Act.

Savings, transitional and other provisions Schedule 5

4 Board of Directors of Authority

(1) The Board of Directors of the Motor Accidents Authority constituted under section 84 of the 1988 Act is abolished.

(2) A person who held office as a part-time director of that Board immediately before its abolition ceases to hold office and is not entitled to any remuneration, or compensation, for loss of that office. However, any such person is eligible (if otherwise qualified) to be appointed as a part-time director of the Board of Directors of the Authority constituted under this Act.

(3) The regulations under this Schedule may make provision for or with respect to the re-constitution of that Board before its abolition by this clause in accordance with the provisions applicable to the constitution of the Board of Directors of the Authority under this Act.

5 Continuation of Motor Accidents Authority Fund

The Motor Accidents Authority Fund established under Part 7 of the 1988 Act becomes, on the commencement of this Act, the Motor Accidents Authority Fund established under Part 8.4 of this Act.

6 Financial provisions

(1) Any obligation of an insurer to pay a contribution under section 95 of the 1988 Act in respect of a financial year that commenced before the commencement of this Act is not affected by the repeal of that section. Any such obligation extends to the obligation to pay an instalment of a contribution that is not due until after the commencement of this Act. (2) Any such contribution paid or recovered after the commencement of this Act is to be paid into the Motor Accidents Authority Fund established under Part 8.4 of this Act.

7 Nominal Defendant

Anything that was done under or had effect under a provision of Division 5 of Part 3 of the 1988 Act in relation to the Nominal Defendant is, after the commencement of this Act, also taken to have been done under or to have effect under the corresponding provision of this Act.

Schedule 5 Savings, transitional and other provisions

8 Claims register

The claims register kept under section 67 of the 1988 Act becomes, on the commencement of this Act, the claims register under section 120 of this Act.

9 Insurers

(1) A licence granted under Division 1 of Part 8 of the 1988 Act, and in force immediately before the commencement of this Act, is taken to be a licence granted under Part 7.1 of this Act.

(2) Anything that was done under or had effect under a provision of the 1988 Act in relation to any such licence is, after the commencement of this Act, also taken to have been done under or to have effect under the corresponding provision of this Act.

10 Insurance Industry Deed

(1) Until an Insurance Industry Deed is in force under this Act, the Industry Deed in force under the 1988 Act immediately before the commencement of this Act is taken to be the Insurance Industry Deed for the purposes of this Act.

(2) Any provisions of the Industry Deed that are inconsistent with this Act or any regulation under this Act do not have effect.

11 Rehabilitation guidelines

Rehabilitation guidelines in force under section 37 of the 1988 Act immediately before the commencement of this Act are taken to be MAC Medical Guidelines until any such guidelines are issued under this Act with respect to the provision of rehabilitation services.

12 References to 1988 Act

A reference to the Motor Accidents Act 1988 in any Act (other than in this Act), in any instrument made under any such Act or in any document is to be read as including a reference to this Act, unless the regulations or the context otherwise requires.

Savings, transitional and other provisions Schedule 5

13 MAA Premiums Determination Guidelines—unearned premium surplus

(1) MAA Premiums Determination Guidelines under Part 2.3 of this Act are to ensure that any unearned premium surplus of insurers associated with policies in force at the commencement of this Act is taken into account for the purpose of subsidising the premiums payable for policies issued within 12 months after the commencement of this Act. (2) The MAA Premiums Determination Guidelines may make provision

for or with respect to the following:

(a) identifying unearned premium surplus,

(b) determining how insurers are to apply the unearned premium surplus.

(3) For the purpose of giving effect to the provisions of the MAA Premiums Determination Guidelines relating to the application of the unearned premium surplus among insurers, the Authority may, under Part 8.4 of this Act, include a special levy in the contributions of licensed insurers to the Motor Accidents Authority Fund to recoup the unearned premium surplus for payment of relevant amounts to other insurers according to the arrangements for the application of the unearned premium surplus. Any such levy may apply to an insurer that ceases to issue third-party policies.

14 Initial premiums for third-party policies

(1) This clause applies to third-party policies issued or taken to have been issued during the period of 12 months after the commencement of this Act.

(2) The grounds on which the Authority may, under Part 2.3 of this Act, reject a premium or set of premiums filed under that Part for any such policy include that the Authority is not satisfied (after taking into account independent actuarial advice) that the majority of policies relating to passenger motor vehicles in metropolitan areas will attract a premium of not more than approximately $330.

(3) This clause does not prevent a change in the initial premium or set of premiums filed under Part 2.3 of this Act if:

(a) the change results in a reduction in the premium or set of premiums, or

Schedule 5 Savings, transitional and other provisions

(b) the change is to take account of a change in the taxation treatment of relevant third-party policies or any other matter that could not have been reasonably anticipated at the time the premium or set of premiums was filed.

15 Additional insurance coverage beyond basic premium rate

(1) The premium for third-party policies referred to in clause 10 is the basic premium rate for benefit coverage under this Act.

(2) Insurers may provide additional optional benefit coverage for persons who wish to take up that coverage in the event of their injury or death in a motor vehicle accident.

[Minister's second reading speech made in— Legislative Council on 3 June 1999 Legislative Assembly on 1 July 1999 pm]