Commonwealth Consolidated Acts

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Determination of the fair value of rights by an expert

  (1)   In determining the fair value for each right to acquire shares in a general insurer for the purposes of paragraph   103E(3)(a), the expert must act in accordance with the assumptions (if any) notified to the expert by the Minister for the valuation of that right.

  (2)   The Minister may give the expert written notice of assumptions for the valuation of such rights.

  (3)   The Minister may, by further written notice given to the expert, revoke, but not vary, notice of the assumptions.

  (4)   A notice given under subsection   (2) or (3) is not a legislative instrument.

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