Document ID: chunk:federal_register_of_legislation:C2012C00862:clause:4_5:p2
Version: federal_register_of_legislation:C2012C00862
Segment Type: clause
Provision Reference: sch 4 cl 5 (pt 2/2)
Character Range: 122830–124462

interests, it would be appropriate for the transfer to be made; and
 (c) APRA is satisfied that the transfer is appropriate, having regard to the interests of policy owners of the receiving body when viewed as a group; and
 (d) the conditions in subsection (2) exist.

Transfer of unregulated business from general insurer
 (1F) APRA may make a written determination that there is to be a transfer of only the business that is not regulated business from a general insurer to a body corporate that is not an insurance company or life insurance company if, and only if:
 (a) APRA is satisfied that:
 (i) the transferring body has contravened the Insurance Act 1973, any regulations or other instruments made under that Act or conditions imposed under that Act; or
 (ii) APRA has served on the transferring body a written notice under subsection 52(4) of the Insurance Act 1973 specifying matters into which an investigation under section 52 of that Act is to be made; or
  (iii) a judicial manager of the transferring body has recommended, under section 62ZI of the Insurance Act 1973, that the body's business be transferred to another general insurer; or
 (iv) APRA has made a determination under subsection (1E) for the transfer of some or all of the transferring body's regulated business to another general insurer (whether or not the transfer has yet happened); and
 (b) APRA has considered the interests of policy owners of the transferring body (when viewed as a group) and considers that, having regard to those interests, it would be appropriate for the transfer to be made; and
 (c) the conditions in subsection (2) exist.