Commonwealth Numbered Acts

Insurance Amendment Act 1983 No. 129 of 1983 - SECT 14

14. (1) Section 27 of the Principal Act is amended by omitting sub-sections
(1) and (2) and substituting the following sub-sections:

''(1) Where the Commissioner decides not to grant an authority to a body
corporate under section 23 or 24 because he is not satisfied with respect to
the matters referred to in whichever of those sections is applicable, he shall
inform the Treasurer accordingly and the Treasurer shall, after having
considered that information-

   (a)  grant the authority; or

   (b)  refuse to grant the authority.

''(2) Where the Treasurer decides under sub-section (1) to refuse to grant an
authority to a body corporate, he shall notify the body corporate, in writing,
of his decision.''.

(2) The amendment made by sub-section (1) does not apply in relation to a
decision of the Treasurer under section 23 of the Principal Act made before
the commencement of this section.