Document ID: chunk:federal_register_of_legislation:C2004C01110:clause:4_230b:p2
Version: federal_register_of_legislation:C2004C01110
Segment Type: clause
Provision Reference: sch 4 cl 230B (pt 2/2)
Character Range: 203572–205790

pay or transfer any amount to any person, or create an obligation (contingent or otherwise) to do so;
 (p) a direction not to undertake any financial obligation (contingent or otherwise) on behalf of any other person;
 (q) any other direction as to the way in which the affairs of the company are to be conducted or not conducted.
A direction under paragraph (o) not to pay any amount does not apply to the payment or transfer of money pursuant to an order of a court or a process of execution.

 (3) Without limiting the generality of subsection (2), a direction referred to in a paragraph of that subsection may:
 (a) deal with some only of the matters referred to in the paragraph; or
 (b) deal with a particular class or particular classes of those matters; or
 (c) make different provision with respect to different matters or different classes of matters.

 (4) The direction may deal with the time by which, or period during which, it is to be complied with.

 (5) The life company has power to comply with the direction despite anything in its constitution or any contract or arrangement to which it is a party.

 (6) APRA may, by notice in writing to the life company, vary the direction if, at the time of the variation, it considers that the variation is necessary or appropriate.

 (7) APRA may, by notice in writing to the life company, revoke the direction if, at the time of the revocation, it considers that the direction is no 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 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.

 (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.