Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Act 2018 (10 of 2018)
Schedule 2 Amendment of the Insurance Act 1973
Part 1 Main amendments
Insurance Act 1973
1 Subsection 3(1)
Insert:
administrator , of a body corporate's business, means an administrator appointed under subsection 62ZOA(1) to take control of the body corporate's business.
Australian business assets and liabilities , of a foreign general insurer, has the meaning given by subsection 62ZVA(3).
Australian financial sector statutory manager (or AFS statutory manager ) means:
(a) a Banking Act statutory manager (within the meaning of the Banking Act 1959); or
(b) an Insurance Act statutory manager; or
(c) a Life Insurance Act statutory manager (within the meaning of the Life Insurance Act 1995).
direction under this Act means a direction under any of the following provisions:
(a) section 17;
(b) section 27;
(c) section 49R;
(d) section 74;
(e) section 76;
(f) section 78;
(g) section 103B;
(h) section 104.