Commonwealth Consolidated Acts

LIFE INSURANCE ACT 1995 - SECT 179AJ

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   179AM(3) or Subdivision B of Division   2 of Part   10A 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 life company--that APRA revoke the life company's registration under section   21;

  (d)   if the body corporate is a registered NOHC--that APRA revoke the registered NOHC's registration under section   28A.

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.