Commonwealth Numbered Acts Commonwealth Numbered ActsADIs and authorised NOHCs of ADIs
(1) A body corporate is an accountable entity if both of the following apply to the body corporate:
(a) it is an ADI or an authorised NOHC of an ADI;
(b) it is a constitutionally covered body.
Note: For when a body corporate is a constitutionally covered body , see section 13.
(2) The ADI or authorised NOHC is an accountable entity from the start of the later of:
(a) the day that is 6 months after the commencement of this Act; and
(b) the day on which it becomes an ADI or authorised NOHC, as the case may be.
Other bodies corporate
(3) A body corporate is an accountable entity if both of the following apply to the body corporate:
(a) it is:
(i) a general insurer; or
(ii) an authorised NOHC of a general insurer; or
(iii) a life company; or
(iv) a registered NOHC of a life company; or
(v) a private health insurer; or
(vi) an RSE licensee;
(b) it is a constitutionally covered body.
(4) The body corporate is an accountable entity from the start of the later of:
(a) the day that is 18 months after the commencement of this Act; and
(b) the day on which it becomes a body corporate covered by the relevant subparagraph of paragraph (3)(a).