Document ID: chunk:federal_register_of_legislation:C2005C00502:clause:2_10a
Version: federal_register_of_legislation:C2005C00502
Segment Type: clause
Provision Reference: sch 2 cl 10A
Character Range: 104650–105593

10A  Application of the old and new Act to certain insurers after the end of the transition period

(1) Items 4, 5, 6, 7, 8, 9 and 10 continue to apply (with the modifications mentioned in subitem (2)) to a body corporate at a time after the end of the transition period if:
 (a) the body corporate:
 (i) is authorised under the old Act to carry on insurance business; or
 (ii) is a general insurer under the new Act; and
 (b) APRA is satisfied at that time that the body corporate is carrying on insurance business in Australia for the sole purpose of discharging liabilities that arose before the end of the transition period.

(2) Items 4, 5, 6, 7, 8, 9 and 10 continue to apply to the body corporate as if:
 (a) a reference in those items to the transition period included a reference to times after the end of the transition period; and
 (b) a reference in those items to a specified period included a reference to an indefinite period.