Document ID: chunk:federal_register_of_legislation:C2016A00043:clause:1_6
Version: federal_register_of_legislation:C2016A00043
Segment Type: clause
Provision Reference: sch 1 cl 6
Character Range: 6062–7463

6  Section 5
Insert:
non‑terminal administration: a person goes into non‑terminal administration if:
 (a) the person goes into external administration; and
 (b) if the person is a body corporate—the external administration is not a winding up under the Corporations Act 2001 or a corresponding process under a law of a foreign country; and
 (c) if the person is an individual—the external administration is not the result of the person becoming a bankrupt under the Bankruptcy Act 1966, or the person having a corresponding status under a law of a foreign country.
regulated body means:
 (a) a body corporate that is an ADI for the purposes of the Banking Act 1959; or
 (b) a general insurer within the meaning of the Insurance Act 1973; or
 (c) a body corporate that is registered under section 21 of the Life Insurance Act 1995; or
 (d) a private health insurer within the meaning of the Private Health Insurance (Prudential Supervision) Act 2015.
regulated business, of a regulated body, means:
 (a) if the body is an ADI—the body's banking business (within the meaning of the Banking Act 1959); or
 (b) if the body is a general insurer—the body's insurance business (within the meaning of the Insurance Act 1973); or
 (c) if the body is a life company—the body's life insurance business (within the meaning of the Life Insurance Act 1995).
resolution period has the meaning given by section 15A.