Document ID: chunk:federal_register_of_legislation:C2018A00010:clause:3_88
Version: federal_register_of_legislation:C2018A00010
Segment Type: clause
Provision Reference: sch 3 cl 88
Character Range: 362495–364011

88  After subsection 230B(3)
Insert:
 (3A) Without limiting the generality of paragraph (2)(x), a direction under that paragraph to an eligible foreign life insurance company may be any one or more of the following:
 (a) a direction that the company act in a way so as to ensure that:
 (i) a particular asset, or a particular class of assets, of the company is returned to the control (however described) of the part of the company's life insurance business that is carried on in Australia; or
 (ii) a particular liability, or a particular class of liabilities, of the company ceases to be the responsibility (however described) of the part of the company's life insurance business that is carried on in Australia;
 (b) a direction that the company not act in a way that has the result that:
 (i) a particular asset, or a particular class of assets, of the company ceases to be under the control (however described) of the part of the company's life insurance business that is carried on in Australia; or
 (ii) a particular liability, or a particular class of liabilities, of the company becomes the responsibility (however described) of the part of the company's life insurance business that is carried on in Australia.
 (3B) The kinds of direction that may be given as mentioned in subsection (2) are not limited by any other provision in this Part.
 (3C) The kinds of direction that may be given as mentioned in a particular paragraph of subsection (2) are not limited by any other paragraph of that subsection.