Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

LIFE INSURANCE ACT 1995 - SECT 22

Conditions on registration

  (1)   APRA may, at any time, by giving written notice to a company:

  (a)   impose conditions, or additional conditions, on the company's registration under section   21; or

  (b)   vary or revoke conditions imposed on the company's registration under section   21.

The conditions must relate to prudential matters.

  (2)   A condition may be expressed to have effect despite anything in the prudential standards.

  (3)   Without limiting the conditions that APRA may impose on a registration, APRA may make the registration conditional on a body corporate, of which the company is a subsidiary, being a registered NOHC.

  (4)   If APRA imposes, varies or revokes the conditions on a company's registration, APRA must:

  (a)   give written notice to the company; and

  (b)   ensure that notice that the action has been taken is published in the Gazette .

  (5)   The taking of an action is not invalid merely because of a failure to comply with subsection   (4).


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback