New South Wales Consolidated Acts New South Wales Consolidated Acts(cf s 106A MAA)
(1) A licensed insurer may, with the approval of the Authority, assign its licence to another licensed insurer or to a corporation to whom the Authority proposes to grant a licence.
(2) The Authority must not approve the assignment of a licence unless the Authority is satisfied that the proposed assignee is able to meet the past, present and future liabilities of the assignor--(a) under any third-party policy in respect of which the assignor is the insurer, and(b) to the Motor Accidents Operational Fund, and(c) to any other licensed insurer.