Document ID: chunk:federal_register_of_legislation:C2008A00105:clause:4_179c
Version: federal_register_of_legislation:C2008A00105
Segment Type: clause
Provision Reference: sch 4 cl 179C
Character Range: 165937–167011

179C  Involving APRA in applications to appoint external administrators of life companies

 (1) Before a person (other than APRA) makes an application to a court under Chapter 5 of the Corporations Act 2001 for the appointment of an external administrator of a life company, the person must give APRA written notice that the person proposes to make the application.

 (2) APRA is entitled to be heard on the application.

 (3) After receiving the notice, APRA may request the person to provide details of the proposed application.

Offence

 (4) A person (other than APRA) commits an offence if:
 (a) the person makes an application to a court under Chapter 5 of the Corporations Act 2001 for the appointment of an external administrator of a life company; and
 (b) before making the application, the person did not give APRA written notice indicating that the person proposed to make the application.

Penalty: 60 penalty units.

 (5) An offence against subsection (4) is an offence of strict liability.

Note: For strict liability, see section 6.1 of the Criminal Code.