Document ID: chunk:federal_register_of_legislation:C2018A00010:clause:4_47
Version: federal_register_of_legislation:C2018A00010
Segment Type: clause
Provision Reference: sch 4 cl 47
Character Range: 397783–398948

47  After subsection 25(1D)
Insert:

Transfer from a body corporate related to a life insurance company to another body
 (1DA) APRA may make a written determination that there is to be a total transfer or partial transfer of business from a body corporate that is related to a life insurance company and is not an ADI, general insurer or life insurance company to another body corporate (the transferee). APRA may make the determination only if:
 (a) APRA is making, or has made within a reasonable period:
 (i) a determination under subsection (1C) or (1D) relating to the life insurance company for the total transfer or partial transfer of its business to a body corporate (the original receiving body) (whether or not the transfer provided for in that determination has occurred); or
 (ii) a determination under section 25AA relating to the life insurance company for the transfer of the shares in the life insurance company to a body corporate (also the original receiving body) (whether or not the transfer provided for in that determination has occurred); and
 (b) the transferee is the original receiving body or is related to the original receiving body.