Document ID: chunk:federal_register_of_legislation:C2025C00135:section:230b:p6
Version: federal_register_of_legislation:C2025C00135
Segment Type: section
Provision Reference: s 230B (pt 6/6)
Character Range: 443619–444572

longer necessary or appropriate.
 (8) The direction ceases to have effect if:
 (a) APRA revokes it under subsection (7); or
 (b) the Court orders that the company be wound up; or
 (c) for a body corporate that is a friendly society referred to in subsection 180(2)—the members of the society have passed a special resolution that the society be wound up.
 (9) APRA must not give a direction under this section in relation to any part of the business of a life company if:
 (a) that part of that business is under the control of a judicial manager; or
 (b) the Court has ordered that the company be wound up; or
 (c) for a company that is a friendly society referred to in subsection 180(2)—the members of the society have passed a special resolution that the society be wound up.
 (10) In this section:
director, in relation to a life company that is an eligible foreign life insurance company, means a member of the Compliance Committee of the company.