Document ID: chunk:federal_register_of_legislation:C2005C00502:clause:1_40
Version: federal_register_of_legislation:C2005C00502
Segment Type: clause
Provision Reference: sch 1 cl 40
Character Range: 51306–52189

40  Approval of an appointment of an auditor or actuary

 (1) A general insurer may request in writing that APRA approve:
 (a) the appointment of a person as the general insurer's auditor; or
 (b) the appointment of a person as the general insurer's actuary.

 (2) APRA can only approve an appointment of a person as a general insurer's auditor or actuary if:
 (a) APRA is satisfied that the person meets the eligibility criteria for such an appointment set out in the prudential standards; and
 (b) there is no determination current under section 44 disqualifying the person from holding such an appointment.

 (3) APRA must give the insurer notice of its decision:
 (a) to approve the person's appointment; or
 (b) to refuse to approve the person's appointment, including the reasons for the refusal.

 (4) Part VI applies to a refusal of APRA to approve a person's appointment.