This Amendment Paper makes some minor and technical amendments to the Contracts of Insurance Bill, including—

• clarifying the application of clause 72(2), which provides that a provision of a life policy that specifies the manner or time of making a claim or commencing a proceeding does not bind the policyholder. The provision has been amended to refer to the death of the life insured (rather than the death of the policyholder). This ensures that the provision applies where the life insured is not also the policyholder; and

• amending the definition of genetic test in clause 86B to extend the range of tests covered by the definition. The term is used in subpart 4A of Part 3, which provides for regulations to prohibit or regulate conduct concerning genetic testing; and

• replacing clause 87(2)(a). Clause 87(2) lists the types of policyholders that may have a liability to a third party that may be recovered under subpart 5 of Part 3. The amendment extends the list to include overseas companies that are in liquidation under the Companies Act 1993 (see section 342 of that Act). The approach in new clause 89(2) provides a more flexible response to circumstances in which a third party claim may be better resolved in another country; and

• clarifying one of the reasons for a court to refuse leave to a third party making a claim against an insurer under subpart 5 of Part 3. New clause 89(2) allows the court to refuse leave if it considers that New Zealand is not the appropriate forum for the proceeding. This does not limit the court’s power to refuse leave for any other reason. Clause 98 is consequentially amended to ensure that a court may consider the overseas matters listed in that clause when deciding whether to give or refuse leave; and

• extending the amendment to the definition of market services licensee obligation in the Financial Markets Conduct Act 2013 (see clause 180(3)). The definition will now include all obligations under the Bill. This allows the Financial Markets Authority to exercise powers over a broader range of obligations; and

• amendments to facilitate the division of the Bill into 2 Bills (the Contracts of Insurance Bill and the Contracts of Insurance (Repeals and Amendments) Bill).