Document ID: chunk:federal_register_of_legislation:C2025C00135:section:230aa
Version: federal_register_of_legislation:C2025C00135
Segment Type: section
Provision Reference: s 230AA
Character Range: 413815–414953

230AA  Who this Subdivision applies to
 (1) This Subdivision applies to a life company that:
 (a) is a company that:
 (i) is registered under the Corporations Act 2001; and
 (ii) has a share capital; and
 (b) does not have a judicial manager.
 (2) Subsections (3) and (4) apply if:
 (a) APRA has given a recapitalisation direction to the life company under subsection 230AB(1) (the primary recapitalisation direction); and
 (b) the life company is a subsidiary of a NOHC/NOHC subsidiary; and
 (c) the NOHC/NOHC subsidiary is a company that:
 (i) is registered under the Corporations Act 2001; and
 (ii) has a share capital; and
 (d) the NOHC/NOHC subsidiary does not have a Life Insurance Act statutory manager.
 (3) This Subdivision applies to the NOHC/NOHC subsidiary in the same way that it does to a life company.
 (4) However, disregard the following provisions in applying this Subdivision to the NOHC/NOHC subsidiary:
 (a) subsection 230AB(1);
 (b) subsection 230AC(1).
 (5) In this section:
NOHC/NOHC subsidiary means a body corporate that is any of the following:
 (a) a registered NOHC;
 (b) a subsidiary of a registered NOHC.