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Regulation of Direct Offshore Foreign Insurers – Exemption Discussion Paper

Date:

Thursday, 20 September 2007

Content ID:

1311

Abstract:

On 3 May 2007 the Government announced its approach to regulating Direct Offshore Foreign Insurers (DOFIs) and Discretionary Mutual Funds (DMFs).

In announcing the Government’s approach the Minister for Revenue and Assistant Treasurer also indicated that there would be limited exemptions, to be developed with input from stakeholders, for insurance risks that could not be placed with authorised insurers.

Based on initial discussions with stakeholders, Treasury has developed a discussion paper outlining a proposed three limb exemption: high value insureds, atypical risks and customised exemption.

Interested parties are invited to comment on the scope of the proposed exemption and the way it is to be implemented as set out in the discussion paper. Submissions may be lodged electronically, by post or facsimile.

Submissions closing date:  31 October 2007

Address written submissions to:

Regulation of Direct Offshore Foreign Insurers – Exemptions Discussion Paper
Financial System Division
The Treasury
Langton Crescent
PARKES ACT 2600

Fax: 02 6263 3866

Email: DOFIexemptions@treasury.gov.au

Submissions will be made available to the public on the Treasury website unless you would like your comments to remain in confidence.

Documents Available:


Acrobat (PDF) documents

 Acrobat (PDF)

Regulation of Direct Offshore Foreign Insurers – Exemption Discussion Paper  230.13kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Regulation of Direct Offshore Foreign Insurers – Exemption Discussion Paper  363.80kb

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