Document ID: chunk:federal_register_of_legislation:C2018A00010:clause:2_62zoc:p2
Version: federal_register_of_legislation:C2018A00010
Segment Type: clause
Provision Reference: sch 2 cl 62ZOC (pt 2/2)
Character Range: 158602–159362

or appointed under subsection (2), the director takes office on the termination of the Insurance Act statutory manager's control of the body corporate's business. If the director was appointed by APRA, the director holds office until the body corporate's next annual general meeting, subject to any terms and conditions imposed by APRA on the director's appointment. If the director was appointed or elected under the body corporate's constitution, the constitution governs the appointment.
Note: For further information about what happens when an Insurance Act statutory manager is in control of a body corporate's business, see Subdivision B.

Subdivision B—Provisions dealing with control of a body corporate's business by an Insurance Act statutory manager