Financial Sector (Transfer and Restructure) Act 1999
PART 6
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MISCELLANEOUS
SECTION 43A
TRANSFERS OF AUSTRALIAN REGULATED BUSINESS OF FOREIGN BODY
43A(1)
This section applies to a transfer of business under Part 3 or 4 from a transferring body to another body if the transferring body is:
(a) a foreign ADI; or
(b) a foreign general insurer; or
(c) an eligible foreign life insurance company.
43A(2)
For the purposes of the transfer of business, treat the Australian business assets and liabilities of the transferring body as the entire business of the transferring body.
This section applies to a transfer of business under Part 3 or 4 from a transferring body to another body if the transferring body is:
(a) a foreign ADI; or
(b) a foreign general insurer; or
(c) an eligible foreign life insurance company.
43A(2)
For the purposes of the transfer of business, treat the Australian business assets and liabilities of the transferring body as the entire business of the transferring body.
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