S 78-35(1) substituted by No 118 of 2017, s 3 and Sch 1 item 8, effective 1 July 2017. For application provision, see note under the definition of "digital currency" in s 195-1. S 78-35(1) formerly read:
(1) If, in settlement of a claim made by an insurer in the insurer's exercising of rights of subrogation in respect of an *insurance policy, an entity that is not insured under the policy:
(a) makes a payment of *money; or
(b) makes a supply; or
(c) makes both a payment of money and a supply;
the payment or supply is not treated as *consideration for a supply made by the insurer (whether or not the payment or supply is made to the insurer) or by the entity insured.
S 78-35 substituted by No 177 of 1999, s 3 and Sch 1 item 90, effective 1 July 2000. S 78-35 formerly read:
78-35 Payments of excess under insurance policies are not consideration for supplies
(1) The making of any payment by an entity is not treated as *consideration for a supply, to the entity or any other entity, to the extent that the payment is the payment of an excess under an *insurance policy.
(2) This section has effect despite section 9-15 (which is about consideration).