Document ID: chunk:federal_register_of_legislation:C2025C00157:section:3:p7
Version: federal_register_of_legislation:C2025C00157
Segment Type: section
Provision Reference: s 3 (pt 7/8)
Character Range: 39523–42277

in the Retirement Savings Accounts Act 1997.
securities exchange means:
 (a) ASX Limited; or
 (b) a licensed market (within the meaning of the Corporations Act 2001) whose licence covers dealing in derivatives; or
 (c) any other body (whether in or outside Australia) approved by the Minister as a securities exchange for the purposes of this Act.
senior manager of a general insurer or a corporate agent means a person who has or exercises any of the senior management responsibilities (within the meaning of the prudential standards) for the insurer or agent.
share means a share in the capital of a body corporate, and includes stock.
statutory accounts, in relation to a body corporate, means the reporting documents that the body corporate is required under section 13 of the Financial Sector (Collection of Data) Act 2001 to lodge with APRA.
subsidiary has the meaning given by section 4.
transferred liabilities determination means a determination under subsection 62ZZMA(1).
wind up, in relation to a company, means wind up the company in accordance with the Corporations Act 2001.
yearly statutory accounts, in relation to a body corporate, means the reporting documents that the body corporate is required under section 13 of the Financial Sector (Collection of Data) Act 2001 to lodge with APRA in respect of a financial year.
 (1A) APRA may, in writing, authorise an APRA member or an APRA staff member to perform the functions of an authorised person under this Act.
 (2) The Minister may, by legislative instrument, give approvals for the purposes of paragraph (c) of the definition of securities exchange in subsection (1).
 (4) A reference in this Act to a general insurer having no liabilities in respect of insurance business carried on by it in Australia includes a reference to a general insurer who has assigned, other than by an equitable assignment, all of its interests (including rights and benefits) under all contracts of insurance in respect of insurance business carried on by it in Australia to another general insurer.
 (5) Without limiting the scope of what is incidental to insurance business for the purposes of the definition of insurance business in subsection (1), a business of a person is taken, for the purposes of that definition, to be a business incidental to insurance business to the extent that it involves one or more of the following kinds of acts:
 (a) inducing others to enter into contracts of insurance with the person as the insurer;
 (b) publishing or distributing a statement relating to the person's willingness to enter into a contract of insurance as an insurer;
 (c) procuring the publication or distribution of such a statement.
 (5A) Subsection (5) does not apply if the contracts of insurance