Document ID: chunk:federal_register_of_legislation:C2025C00157:section:62zu
Version: federal_register_of_legislation:C2025C00157
Segment Type: section
Provision Reference: s 62ZU
Character Range: 282124–282790

62ZU  Order to wind up general insurer on APRA's application
 (1) After an investigation of a general insurer has been made under Part V, APRA may apply to the Federal Court for an order that the general insurer be wound up.
 (2) The Federal Court may make the order if satisfied that it is in the interests of the general insurer's policyholders.
 (3) To avoid doubt, subsection (1) applies whether or not an Insurance Act statutory manager is in control of:
 (a) unless paragraph (b) applies—the general insurer's business; or
 (b) if the general insurer is a foreign general insurer—the Australian business assets and liabilities of the foreign general insurer.