Document ID: chunk:federal_register_of_legislation:C2025C00157:section:118:p1
Version: federal_register_of_legislation:C2025C00157
Segment Type: section
Provision Reference: s 118 (pt 1/2)
Character Range: 450571–453150

118  Agent in Australia
 (1) A body corporate that is not incorporated in Australia and:
 (a) is a foreign general insurer; or
 (b) is a subsidiary of a foreign general insurer;
must, at all times while it is such an insurer or subsidiary, be represented for the purposes of this Act by an agent appointed by it for the purposes of this Act.
 (2) Subject to subsection (3B), where the agent of a body corporate appointed under subsection (1) is, or is about to be, absent from Australia or, for any reason, unable to perform the duties of such an agent, the body corporate shall, if it does not revoke the appointment and appoint another agent under that subsection, appoint another agent to act as the agent of the body corporate for the purposes of this Act during the absence or inability.
 (3) Where an agent appointed under subsection (2) to act as the agent of a body corporate is, or is about to be, absent from Australia or, for any reason, unable to perform the duties of such an agent, the body corporate shall revoke the appointment and appoint another agent under that subsection.
 (3A) A body corporate may appoint an agent to act as the agent of the body corporate for the purposes of this Act during all periods when the agent of the body corporate appointed under subsection (1) is absent from Australia or, for any reason, unable to perform the duties of such an agent.
 (3B) Subsection (2) does not apply in relation to an absence from Australia of the agent of a body corporate appointed under subsection (1), or to an inability, for any other reason, of such an agent to perform the duties of such an appointment, if an agent in Australia is, during the absence or inability, performing, or available to perform, the duties of the agent in pursuance of an appointment under subsection (3A).
 (4) An appointment under this section is taken not to have been duly made or revoked until the body corporate has given written notice of the appointment or revocation to APRA, specifying the agent's name and:
 (a) in the case of an appointment of an individual resident in Australia—the place of residence of the individual appointed; or
 (b) in the case of an appointment of a body corporate incorporated in Australia—either the head office, registered office or principal office of the body corporate in Australia.
 (4A) If:
 (a) a foreign general insurer has given written notice under subsection (4) of the appointment of an agent of the foreign general insurer and the notice specifies:
 (i) the name of the agent; and
 (ii) the place of residence, head office,