Document ID: chunk:federal_register_of_legislation:C2025C00135:section:165:p2
Version: federal_register_of_legislation:C2025C00135
Segment Type: section
Provision Reference: s 165 (pt 2/2)
Character Range: 256174–257025

functions of the members of the board of directors of the company (collectively and individually), including the board's powers of delegation, in relation to that part of the business.
 (3) Subsections (1) and (2) do not remove an officer or member of the Compliance Committee of the company from office.
 (4) A life company may not issue policies without the leave of the Court if the company, or any part of the business of the company, is under judicial management.
 (5) Subsection (4) does not prevent the variation of a policy under section 209.
 (6) In this section, officer has the same meaning as it has in the Corporations Act 2001.
Note: This section and other provisions relating to judicial management do not apply to the aspects described in subsection 16ZE(3) of the business and management of an eligible foreign life insurance company.