Insolvency Law Reform Act 2016 (11 of 2016)

Schedule 3   Other amendments

Part 6   Miscellaneous amendments

Corporations Act 2001

21   Paragraph 435C(3)(h)

Repeal the paragraph, substitute:

(h) if the company is a general insurer (within the meaning of the Insurance Act 1973) - management of the general insurer vests in a judicial manager of the company appointed by the Federal Court under Part VB of the Insurance Act 1973; or

(i) if the company is a life company (within the meaning of the Life Insurance Act 1995) - management of the life company vests in a judicial manager of the life company appointed by the Federal Court under Part 8 of the Life Insurance Act 1995.