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Insurance Acquisitions and Takeovers Act 1991

No. 6, 1992

Compilation No. 25

Compilation date: 21 February 2025

                Includes amendments: Act No. 14, 2025

About this compilation

This compilation

This is a compilation of the Insurance Acquisitions and Takeovers Act 1991 that shows the text of the law as amended and in force on 21 February 2025 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents
Part 1—Preliminary
1 Short title
2 Commencement
3 Objects of Act and simplified outline of Act
4 Interpretation
5 What is contrary to the public interest
6 Entering into an agreement or arrangement
7 Associates
8 Proposals to acquire shares or assets
9 Meaning of entitled to acquire
10 Meaning of interest in an asset
11 Meaning of interest in a share
12 Certain interests in shares to be disregarded
13 Voting power
14 Associate‑inclusive control interest in a company
15 Direct control interests in a company
16 Power to appoint director
17 Deemed notices—options
17A Approved manner and form of giving notices
18 Application of Act
19 Severability
Part 3—Control of acquisition or leasing of assets of Australian‑registered insurance companies
Division 1—Interpretation
35 Interpretation
36 Meaning of trigger proposal—proposals to acquire or lease assets of Australian‑registered insurance companies
37 When trigger proposal carried out
Division 2—Notification
38 Compulsory notification of trigger proposal
40 Trigger proposal must not be carried out before a go‑ahead