Document ID: chunk:federal_register_of_legislation:C2025C00148:section:9
Version: federal_register_of_legislation:C2025C00148
Segment Type: section
Provision Reference: s 9
Character Range: 17831–19066

9  Meaning of accountable entity

ADIs and authorised NOHCs of ADIs
 (1) A body corporate is an accountable entity if both of the following apply to the body corporate:
 (a) it is an ADI or an authorised NOHC of an ADI;
 (b) it is a constitutionally covered body.
Note: For when a body corporate is a constitutionally covered body, see section 13.
 (2) The ADI or authorised NOHC is an accountable entity from the start of the later of:
 (a) the day that is 6 months after the commencement of this Act; and
 (b) the day on which it becomes an ADI or authorised NOHC, as the case may be.

Other bodies corporate
 (3) A body corporate is an accountable entity if both of the following apply to the body corporate:
 (a) it is:
 (i) a general insurer; or
 (ii) an authorised NOHC of a general insurer; or
 (iii) a life company; or
 (iv) a registered NOHC of a life company; or
 (v) a private health insurer; or
 (vi) an RSE licensee;
 (b) it is a constitutionally covered body.
 (4) The body corporate is an accountable entity from the start of the later of:
 (a) the day that is 18 months after the commencement of this Act; and
 (b) the day on which it becomes a body corporate covered by the relevant subparagraph of paragraph (3)(a).