The Minister must cause a person to review, and to report to the Minister in writing about, the operation of the following provisions (the structured settlements and orders provisions):
(a) the other provisions of this Division;
(b) Division 2A of Part 10 of the Life Insurance Act 1995.
The person must be someone who, in the Minister's opinion, is suitably qualified and appropriate to conduct the review.
The review and report must relate to the period beginning when this Division commences and ending after 4 years and 6 months.
The person must give the report to the Minister as soon as practicable, and in any event within 6 months, after the end of that period.
The report may include suggestions for changes to the structured settlements and orders provisions that, in the person's opinion, are needed to overcome, or would help overcome, problems identified during the review and set out in the report.
The person must provide a reasonable opportunity for members of the public to make submissions to him or her about matters to which the review relates.
The Minister must cause a copy of the report to be laid before each House of the Parliament within 15 sitting days of that House after the Minister receives the report.