Document ID: chunk:federal_register_of_legislation:C2008A00105:clause:2_62zzu
Version: federal_register_of_legislation:C2008A00105
Segment Type: clause
Provision Reference: sch 2 cl 62ZZU
Character Range: 64150–64978

62ZZU  APRA's costs of administration

 (1) The costs incurred by APRA in relation to the exercise of its powers and the performance of its functions under this Part (whether by APRA or by a delegate) relating to a declared general insurer are a debt due by the declared general insurer to APRA.

 (2) The debt is admissible to proof against the declared general insurer in the winding up of the general insurer.

 (3) The debt has the same priority in the winding up of the declared general insurer as a claim in respect of a policy issued by the insurer.

 (4) Subsection (1) does not apply to the amounts of entitlements under Division 3.

Note: APRA may be able to recover those amounts through the rights it acquires under section 62ZZL from the person.

Division 5—Exceptions to Part IV of the Trade Practices Act 1974