Document ID: chunk:federal_register_of_legislation:C2008A00105:clause:3_62l
Version: federal_register_of_legislation:C2008A00105
Segment Type: clause
Provision Reference: sch 3 cl 62L
Character Range: 112734–113347

62L  Order for judicial management after investigation

  On an application under section 62K, the Federal Court may make an order that a general insurer be placed under judicial management if the Court is satisfied:
 (a) that the insurance business of the general insurer has been investigated under Part V; and
 (b) that, having regard to the results of the investigation, it is in the interests of policyholders of the general insurer that the order be made.

Note: This Division does not apply to management of insurance business carried on outside Australia by a foreign general insurer: see section 62ZO.