Document ID: chunk:federal_register_of_legislation:C2008A00105:clause:2_62zze
Version: federal_register_of_legislation:C2008A00105
Segment Type: clause
Provision Reference: sch 2 cl 62ZZE
Character Range: 46052–46665

62ZZE  APRA may advise Minister of its belief of insolvency

 (1) This section applies if APRA believes that a particular general insurer:
 (a) is insolvent as defined in section 95A of the Corporations Act 2001; or
 (b) is a foreign general insurer and is unable to pay, from its assets in Australia, all its debts that are liabilities in Australia other than pre‑authorisation liabilities, as and when those debts become due and payable.

Note: Section 116A deals with assets and liabilities in Australia.

 (2) APRA may give the Minister written advice of APRA's belief.

Division 3—Early payment of claims