Document ID: chunk:federal_register_of_legislation:C2025C00157:section:15:p2
Version: federal_register_of_legislation:C2025C00157
Segment Type: section
Provision Reference: s 15 (pt 2/2)
Character Range: 61764–62731

the time the notice is given, APRA is not satisfied that the insurer has no liabilities in respect of insurance business carried on by it in Australia.
 (3B) If APRA gives a notice under subsection (3) to a general insurer, APRA must not revoke the insurer's authorisation until after the date specified in the notice, and after consideration of any submission, as mentioned in paragraph (3)(b).
 (4) APRA may decide that subsection (3) does not apply if APRA is satisfied that complying with that subsection could result in a delay in revocation that would be contrary to the national interest.
 (5) If APRA revokes a general insurer's authorisation, APRA must:
 (a) give written notice to the insurer; and
 (b) ensure that notice of the revocation is published in the Gazette.
 (6) A revocation is not invalid merely because of a failure to comply with subsection (5).
 (7) Part VI applies to a decision to revoke a general insurer's authorisation under section 12.