Commonwealth Consolidated Acts

INSURANCE ACT 1973 - SECT 62ZOJ

Types of recommendation

  (1)   An administrator of a body corporate's business may make any of the following recommendations to APRA, by instrument in writing given to APRA:

  (a)   that APRA make a particular direction under subsection   62ZOM(3) or Division   2 of Part   IX in respect of the body corporate;

  (b)   that APRA apply for the body corporate to be wound up;

  (c)   if the body corporate is a general insurer--that APRA revoke the general insurer's authorisation under section   12;

  (d)   if the body corporate is an authorised NOHC--that APRA revoke the authorised NOHC's authorisation under section   18.

Effect of recommendation

  (2)   If an administrator of a body corporate's business makes a recommendation under this section, APRA must consider the recommendation but is not required to act on it.