Financial Sector Legislation Amendment (Prudential Refinements and Other Measures) Act 2010 (82 of 2010)

Schedule 2 Amendment of the Insurance Act 1973

Repeal the paragraph, substitute:

(a) allows the Minister to make a declaration about a general insurer:

(i) that is under judicial management and APRA believes is insolvent; or

(ii) for which an external administrator has been appointed under Chapter 5 of theCorporations Act 2001 and APRA believes is insolvent; and