(1) This Act does not apply to State insurance (whether or not extending beyond the limits of the State concerned).
(2) This Act does not apply to:
(a) an arrangement under which medical indemnity cover is provided by:
(i) the Commonwealth, a public authority of the Commonwealth or an instrumentality or agency of the Crown in right of the Commonwealth; or
(ii) a State, a public authority of a State or an instrumentality or agency of the Crown in right of a State; or
(iii) a Territory, a public authority of a Territory or an instrumentality or agency of the Crown in right of a Territory; or
(b) an arrangement under which medical indemnity cover is provided by a person to a health care professional who is an employee of the person; or
(c) an arrangement under which medical indemnity cover is provided by an employer in relation to health care provided to the employer's employees:
(i) by an employee of the employer; or
(ii) under a contract between the employer and the person providing the care; or
(d) an arrangement under which medical indemnity cover is provided by a body corporate prescribed by the regulations; or
(e) an arrangement of a kind prescribed by the regulations.