Financial Sector Legislation Amendment (Discretionary Mutual Funds and Direct Offshore Foreign Insurers) Act 2007 (149 of 2007)

Schedule 2   Amendments commencing on 1 July 2008

Insurance Act 1973

5A   Subsection 3(1) (definition of senior manager)

Repeal the definition, substitute:

senior manager of a general insurer or a corporate agent means a person who has or exercises any of the senior management responsibilities (within the meaning of the prudential standards) for the insurer or agent.