[no bill text published] Ban on using protected genetic information for life insurance decisions
Treasury Laws Amendment (Genetic Testing Protections in Life Insurance and Other Measures) Bill 2025
1st House
2nd House
Law
Links to official parliament websites
Effects of this bill
If this bill passes, it means that:
Life insurers cannot use protected genetic information to make decisions about life insurance contracts
People are not considered to have lied on an application if they do not disclose protected genetic information
Foreign companies and partnerships do not need a license to provide financial services to wholesale clients
Foreign providers using this license exemption must act efficiently, honestly and fairly
Foreign providers must tell ASIC if they break any exemption conditions
ASIC can cancel a foreign provider's exemption if the provider breaks the rules
Foreign providers must help ASIC when reasonably requested