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

Schedule 3   Amendment of the Life Insurance Act 1995

Part 1   Amendments

3   At the end of Part 3

Add:

28 Continuation of effect of company's registration

If APRA cancels a company's registration by a notice under subsection 26(2) or 27(1), the notice may state that the registration continues in effect in relation to a specified matter or specified period, as though the cancellation had not happened, for the purposes of:

(a) a specified provision of this Act or the regulations that is administered by APRA; or

(b) a specified provision of another law of the Commonwealth that is administered by APRA;

and the statement has effect accordingly.