Document ID: chunk:federal_register_of_legislation:C2025C00157:section:62zoa:p3
Version: federal_register_of_legislation:C2025C00157
Segment Type: section
Provision Reference: s 62ZOA (pt 3/3)
Character Range: 230278–232214

maintain its operations, or in order to facilitate the resolution of any of the following:
 (i) the relevant general insurer;
 (ii) an authorised NOHC of the relevant general insurer;
 (iii) a relevant group of bodies corporate of which the relevant general insurer is a member;
 (iv) a particular member or particular members of such a group.
 (8) If:
 (a) APRA is in control of a body corporate's business under this Subdivision—APRA is the Insurance Act statutory manager of the body corporate; or
 (b) an administrator appointed by APRA is in control of a body corporate's business under this Subdivision—the administrator is the Insurance Act statutory manager of the body corporate.
Note: This section and other provisions relating to statutory management do not apply to the aspects described in subsection 62ZVA(1) of the business and management of a foreign general insurer.
 (9) If APRA appoints 2 or more Insurance Act statutory managers of a body corporate, or appoints one or more additional Insurance Act statutory managers of a body corporate:
 (a) the functions and powers under this Act of an Insurance Act statutory manager of the body corporate may be performed or exercised by:
 (i) all of the Insurance Act statutory managers of the body corporate acting jointly; or
 (ii) each of the Insurance Act statutory managers of the body corporate acting individually (except to the extent (if any) specified in a notice given by APRA under paragraph (b)); and
 (b) at the time of appointment, APRA may give all of the Insurance Act statutory managers of the body corporate a notice in writing for the purposes of subparagraph (a)(ii), specifying limits or conditions on their ability to perform functions and exercise powers individually; and
 (c) treat a reference in this Act to an Insurance Act statutory manager as being a reference to whichever one or more of those Insurance Act statutory managers the case requires.