Document ID: chunk:federal_register_of_legislation:C2025C00115:section:36:p2
Version: federal_register_of_legislation:C2025C00115
Segment Type: section
Provision Reference: s 36 (pt 2/2)
Character Range: 39028–41114

life insurance as at that date;
 (d) all of the following conditions are satisfied:
 (i) one or more persons propose to acquire any or all of the interests, rights or benefits of an Australian‑registered insurance company under one or more contracts of insurance where the company is the insurer;
 (ii) the company is authorised under the Insurance Act 1973 to carry on insurance business;
 (iii) the sum of:
 (A) any reduction in the company's unearned premiums provision resulting from the acquisition; and
 (B) if the persons or their associates have acquired any or all of the interests, rights or benefits of the company under one or more contracts of insurance where the company is the insurer, being acquisitions that occurred in the 12‑month period before the date of the proposed acquisition referred to in subparagraph (i)—the total of any reductions in the company's unearned premiums provision resulting from those acquisitions;
  is 15% or more of the company's book unearned premiums provision as at that date;
 (e) all of the following conditions are satisfied:
 (i) one or more persons propose to acquire any or all of the interests, rights or benefits of an Australian‑registered insurance company under one or more contracts of insurance where the company is the insurer;
 (ii) the company is authorised under the Insurance Act 1973 to carry on insurance business;
 (iii) the sum of:
 (A) any reduction in the company's outstanding claims provision resulting from the acquisition; and
 (B) if the persons or their associates have acquired any or all of the interests, rights or benefits of the company under one or more contracts of insurance where the company is the insurer, being acquisitions that occurred in the 12‑month period before the date of the proposed acquisition referred to in subparagraph (i)—the total of any reductions in the company's outstanding claims provision resulting from those acquisitions;
  is 15% or more of the company's book outstanding claims provision as at that date;
the proposal is a trigger proposal for the purposes of this Part.