Document ID: chunk:federal_register_of_legislation:C2005C00502:clause:1_116a:p2
Version: federal_register_of_legislation:C2005C00502
Segment Type: clause
Provision Reference: sch 1 cl 116A (pt 2/2)
Character Range: 89222–90230

does not include:
 (a) a liability in respect of share capital; or
 (b) where the body corporate is registered under the Life Insurance Act 1995, a liability that is, in accordance with that Act:
 (i) referable to a class of life insurance business carried on by the body corporate in respect of which it has established a statutory fund under that Act; or
 (ii) charged on any of the assets of such a statutory fund.

 (5) The whole or such part as APRA determines of an amount owed to a body corporate by way of portions of premiums retained under a contract of reinsurance by a person outside Australia are, for the purposes of section 28, to be taken to be an asset in Australia of the body corporate.

 (6) Where:
 (a) a determination has been made under subsection (5); and
 (b) it appears at any time to APRA that the determination is no longer necessary or should be varied;
APRA must, by notice in writing served on the body corporate concerned, revoke or vary the determination, as the case may be.