Australian Capital Territory Numbered Acts

ROAD TRANSPORT (THIRD-PARTY INSURANCE) ACT 2008 (NO. 1 OF 2008) - SECT 240

    (1)     The Minister may declare (an insolvent insurer declaration ) a licensed insurer, or former licensed insurer, to be an insolvent insurer if—

        (a)     the Minister is satisfied that—

              (i)     a liquidator or provisional liquidator has been appointed for the licensed insurer or former licensed insurer; or

              (ii)     the licensed insurer, or former licensed insurer, has been dissolved; and

        (b)     the Minister has consulted—

              (i)     APRA; and

              (ii)     ASIC; and

        (c)     the Treasurer approves the making of the declaration.

    (2)     An insolvent insurer declaration is a notifiable instrument.

Note     A notifiable instrument must be notified under the Legislation Act.