TERRORISM INSURANCE ACT 2003

Minister to Australian Reinsurance Pool Corporation (Payments to the Commonwealth) Direction

2012

I, BILL SHORTEN, Minister for Financial Services & Superannuation, give this written direction to the Australian Reinsurance Pool Corporation under s.38 of the Terrorism Insurance Act 2003.

Dated       21 / 6 /2012

BILL SHORTEN
Minister for Financial Services & Superannuation

1. Name of Direction

 Minister to Australian Reinsurance Pool Corporation (Payments to the Commonwealth) Direction 2012.

2. Commencement

 This Direction commences when it is made.

3. Payments to be made

 The following payments are to be made by the Australian Reinsurance Pool Corporation to the Commonwealth:

 a one-off payment of $100 million to be made in January 2013;

 a payment of $75 million to be made in January 2013;

a payment of $75 million to be made in January 2014;

a payment of $75 million to be made in January 2015; and

a payment of $75 million to be made in January 2016.

The payments are to be made to:

Department of Treasury Official Administered Receipts Account

BSB: 009

Account Number: 918 379