Document ID: chunk:federal_register_of_legislation:C2024C00606:section:25:p3
Version: federal_register_of_legislation:C2024C00606
Segment Type: section
Provision Reference: s 25 (pt 3/6)
Character Range: 43706–46404

owners of the transferring body (when viewed as a group) and considers that, having regard to their interests, it would be appropriate for the transfer to be made; and
 (c) APRA is satisfied that the transfer is appropriate, having regard to the interests of policy owners of the receiving body when viewed as a group; and
 (d) the conditions in subsection (2) exist.

Transfer of unregulated business from life insurance company
 (1D) APRA may make a written determination that there is to be a transfer of only business that is not regulated business from a life insurance company to a body corporate that is not an insurance company or life insurance company if, and only if:
 (a) APRA is satisfied that:
 (i) the transferring body has contravened the Life Insurance Act 1995, any regulations or other instruments made under that Act or conditions imposed under that Act; or
 (ii) APRA has given the transferring body a written notice under subsection 139(1) of the Life Insurance Act 1995 stating that APRA proposes to investigate life insurance business of the body; or
 (iii) a judicial manager of the transferring body has recommended, under subsection 175(2) of the Life Insurance Act 1995, that the business or part of the business of the body be transferred to another company; or
 (iiia) there is a Life Insurance Act statutory manager of the transferring body under the Life Insurance Act 1995; or
 (iv) APRA has made a determination under subsection (1C) for the transfer of some or all of the transferring body's regulated business to another life insurance company (whether or not the transfer has yet happened); and
 (b) APRA has considered the interests of policy owners of the transferring body (when viewed as a group) and considers that, having regard to those interests, it would be appropriate for the transfer to be made; and
 (c) the conditions in subsection (2) exist.

Transfer from a body corporate related to a life insurance company to another body
 (1DA) APRA may make a written determination that there is to be a total transfer or partial transfer of business from a body corporate that is related to a life insurance company and is not an ADI, general insurer or life insurance company to another body corporate (the transferee). APRA may make the determination only if:
 (a) APRA is making, or has made within a reasonable period:
 (i) a determination under subsection (1C) or (1D) relating to the life insurance company for the total transfer or partial transfer of its business to a body corporate (the original receiving body) (whether or not the transfer provided for in that determination has occurred); or
 (ii) a determination under section 25AA relating to