Insurance Act 1973 (Cth)

Insurance Act 1973

No. 76, 1973

Compilation No. 73

Compilation date: 21 February 2025

Includes amendments: Act No. 14, 2025

About this compilation

This compilation

This is a compilation of the Insurance Act 1973 that shows the text of the law as amended and in force on 21 February 2025 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register ( The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

An Act relating to Insurance

Part IPreliminary 1Short title

This Act may be cited as the Insurance Act 1973.

2Commencement

(1)
Parts I and II shall come into operation on the day on which this Act receives the Royal Assent.
(2)
The remaining provisions of this Act shall come into operation on such date as is, or on such dates as respectively are, fixed by Proclamation.

2AMain objects of this Act

(1)
The main objects of this Act are:
(a)
to protect the interests of policyholders and prospective policyholders under insurance policies (issued by general insurers and Lloyd’s underwriters) in ways that are consistent with the continued development of a viable, competitive and innovative insurance industry; and
(b)
to promote financial system stability in Australia.
(2)
This Act, and the prudential standards determined by APRA under this Act, achieve this mainly by:
(a)
restricting who can carry on insurance business in Australia by requiring general insurers, and the directors and senior management of general insurers, to meet certain suitability requirements; and
(b)
imposing primary responsibility for protecting the interests of policyholders on the directors and senior management of general insurers; and
(c)
imposing on general insurers requirements to promote prudent management of their insurance business (including requirements concerning capital adequacy, the valuation of liabilities, reinsurance arrangements and the effectiveness of risk management strategies and techniques); and
(d)
providing for the prudential supervision of general insurers by APRA; and
(e)
providing for APRA to manage or respond to circumstances in which the ability of a general insurer to meet its obligations may be threatened; and
(f)
providing for certain policyholders to be paid amounts where the financial claims scheme has been declared to apply in relation to a general insurer.
(3)
Generally, the provisions of this Act apply to general insurers. However, there are a number of special provisions that apply only to Lloyd’s underwriters.

3Interpretation

(1)
In this Act, unless the contrary intention appears:
accident insurance business means the business of undertaking liability under policies of insurance in respect of the happening of personal accidents (whether fatal or not), disease or sickness or of any class of personal accidents, disease or sickness.
accounting records, in relation to a body corporate, includes invoices, receipts, orders for the payment of money, bills of exchange, cheques, promissory notes, vouchers and other documents of prime entry and also includes such working papers and other documents as are necessary to explain the methods and calculations by which accounts of the body corporate are made up, and such other documents (if any) as are prescribed.
accounts, except in Part VII, means ordinary accounts and statutory accounts.
ADI (authorised deposit‑taking institution) means a body corporate that is an ADI for the purposes of the Banking Act 1959.
administrator, of a body corporate’s business, means an administrator appointed under subsection 62ZOA(1) to take control of the body corporate’s business.
approved form means (except in section 62ZZKA) a form approved, in writing, by APRA.
APRA means the Australian Prudential Regulation Authority.
APRA member has the same meaning as in the Australian Prudential Regulation Authority Act 1998.
APRA Special Account has the same meaning as in the Australian Prudential Regulation Authority Act 1998.
APRA staff member has the same meaning as in the Australian Prudential Regulation Authority Act 1998.
ASIC means the Australian Securities and Investments Commission.
Australia includes a Territory to which this Act extends.
Australian business assets and liabilities, of a foreign general insurer, has the meaning given by subsection 62ZVA(3).
Australian financial sector statutory manager (or AFS statutory manager) means:
(a)
a Banking Act statutory manager (within the meaning of the Banking Act 1959); or
(b)
an Insurance Act statutory manager; or
(c)
a Life Insurance Act statutory manager (within the meaning of the Life Insurance Act 1995).
authorised NOHC means a body corporate:
(a)
authorised under section 18; and
(b)
that is a NOHC of a general insurer or general insurers.
authorised person:
(a)
except in Part VA, means a person authorised under subsection (1A); or
(b)
in Part VA, means APRA, or a person authorised by APRA, in writing, for the purposes of that Part.
barrister or solicitor means a barrister or solicitor of the High Court or of the Supreme Court of a State, or of the Australian Capital Territory or the Northern Territory.
books includes any register or other record of information or any accounts or accounting records, however compiled, recorded or stored, and also includes any document.
business day means a day that is not a Saturday, a Sunday or a public holiday or bank holiday in the place concerned.
charge means a charge created in any way and includes a mortgage or an agreement to give or execute a charge or mortgage, whether upon demand or otherwise.
civil penalty provision: a subsection of this Act (or a section of this Act that is not divided into subsections) is a civil penalty provision if:
(a)
the words “civil penalty” and one or more amounts in penalty units are set out at the foot of the subsection (or section); or
(b)
another provision of this Act specifies that the subsection (or section) is a civil penalty provision.
corporate agent means a body corporate that is appointed under section 118 as an agent in Australia for the purpose of that section.
data processing device means any article or material (for example, a disk) from which information is capable of being reproduced with or without the aid of any other article or device.
debenture includes debenture stock, bonds, notes and any other document evidencing or acknowledging indebtedness of a body corporate in respect of money that is or may be deposited with or lent to the body corporate, whether constituting a charge on property of the body corporate or not, but does not include:
(a)
for the purposes of a particular provision of this Act—a document prescribed for the purposes of that provision; or
(b)
for the purposes of this Act generally—a prescribed document.
declared general insurer means a general insurer specified in a declaration under section 62ZZC as a general insurer in relation to which Division 3 of Part VC applies.
direction under this Act means a direction under any of the following provisions:
(a)
section 17;
(b)
section 27;
(c)
section 49R;
(d)
section 74;
(e)
section 76;
(f)
section 78;
(g)
section 103B;
(h)
section 104.
director, in relation to a body corporate, includes a member of the governing body of the body corporate.
external administrator means any of the following:
(a)
a liquidator;
(b)
a receiver, manager, managing controller, receiver and manager or other controller (other than a judicial manager or an Insurance Act statutory manager);
(c)
a voluntary administrator or administrator of a deed of a company arrangement or a scheme manager.
Expressions used in this definition have the same meanings as they have in the Corporations Act 2001.
Federal Court means the Federal Court of Australia.
Finance Minister means the Minister who administers the Public Governance, Performance and Accountability Act 2013.
Financial Claims Scheme Special Account has the same meaning as in the Australian Prudential Regulation Authority Act 1998.
financial market has the same meaning as in Chapter 7 of the Corporations Act 2001.
Financial System Stability Special Account means the Financial System Stability Special Account established by section 70E of the Banking Act 1959.
financial year, in relation to a body corporate, has the same meaning as that expression has in relation to a body for the purposes of the Corporations Act 2001 (disregarding Schedule 2 of that Act).
foreign general insurer means a body corporate that:
(a)
is a foreign corporation within the meaning of paragraph 51(xx) of the Constitution; and
(b)
is authorised to carry on insurance business in a foreign country; and
(c)
is authorised under section 12 to carry on insurance business in Australia.
friendly society means:
(a)
a body that is a friendly society for the purposes of the Life Insurance Act 1995; or
(b)
a body that is registered or incorporated as a friendly society under a law of a State or Territory; or
(c)
a body that is permitted, by a law of a State or Territory, to assume or use the expression friendly society; or
(d)
a body that, immediately before the date that is the transfer date for the purposes of the Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999, was registered or incorporated as a friendly society under a law of a State or Territory.
general insurer has the meaning given by section 11.
government entity has the meaning given by subsection 114(5).
holding company, of a body corporate, means another body corporate of which the first body corporate is a subsidiary.
Insurance Act statutory manager has the meaning given by subsection 62ZOA(8).
insurance business means the business of undertaking liability, by way of insurance (including reinsurance), in respect of any loss or damage, including liability to pay damages or compensation, contingent upon the happening of a specified event, and includes any business incidental to insurance business as so defined, but does not include:
(a)
life insurance business; or
(b)
accident insurance business undertaken solely in connexion with life insurance business; or
(c)
pecuniary loss insurance business carried on solely in the course of carrying on banking business and for the purposes of that business by an ADI; or
(d)
business in relation to the benefits provided by a friendly society or trade union for its members or their dependants; or
(e)
business in relation to the benefits provided for its members or their dependants by an association of employees or of employees and other persons that is registered as an organisation, or recognised, under the Fair Work (Registered Organisations) Act 2009; or
(f)
business in relation to a scheme or arrangement under which superannuation benefits, pensions or payments to employees or their dependants (and not to any other persons) on retirement, disability or death are provided by an employer or an employer’s employees or by both, wholly through an organization established solely for that purpose by the employer or the employer’s employees or by both; or
(g)
business in relation to a scheme or arrangement for the provision of benefits consisting of:
(i)
the supply of funeral, burial or cremation services, with or without the supply of goods connected with any such service; or
(ii)
the payment of money, upon the death of a person, for the purpose of meeting the whole or a part of the expenses of and incidental to the funeral, burial or cremation of that person;
and no other benefits, except benefits incidental to the scheme or arrangement; or
(h)
business undertaken by a person, being a carrier, carrier’s agent, forwarding agent, wharfinger, warehouseman or shipping agent, relating only to the person’s liability in respect of goods belonging to another person and in the possession, or under the control, of the first‑mentioned person for the purpose of the carriage, storage or sale of those goods; or
(i)
business undertaken by a person, being an innkeeper or lodging‑house keeper, relating only to the person’s liability in respect of goods belonging to another person and in the possession or under the control of a guest at the inn or lodging‑house of which the first‑mentioned person is the innkeeper or lodging‑house keeper or deposited with the innkeeper or lodging‑house keeper for safe custody; or
(j)
the business of insuring the property of a registered religious institution (within the meaning of the Fringe Benefits Tax Assessment Act 1986) where the person carrying on the business does not carry on any other insurance business; or
(ja)
health‑related business within the meaning of section 131‑15 of the Private Health Insurance Act 2007 carried on by a private health insurer within the meaning of that Act through a health benefits fund within the meaning of section 131‑10 of that Act; or
(k)
health insurance business within the meaning of Division 121 of the Private Health Insurance Act 2007 carried on by a private health insurer within the meaning of that Act.
Note: Some contracts of insurance may be excluded from this definition under section 3A.
judicial manager means a judicial manager appointed by the Federal Court under section 62R.
life insurance business has the same meaning as in the Life Insurance Act 1995.
liquidator includes a provisional liquidator.
listing rules has the same meaning as in the Corporations Act 2001.
Lloyd’s means the society of that name incorporated by the Act of the United Kingdom known as Lloyd’s Act 1871.
Lloyd’s underwriter means an underwriting member of Lloyd’s.
NOHC or non‑operating holding company, in relation to a body corporate, means a body corporate:
(a)
of which the first body corporate is a subsidiary; and
(b)
that does not carry on a business (other than a business consisting of the ownership or control of other bodies corporate); and
(c)
that is incorporated in Australia.
NOHC authorisation has the meaning given by section 18.
NOHC/NOHC subsidiary has the meaning given by subsection 103A(5).
ordinary accounts means ledgers, journals, profit and loss accounts and balance‑sheets, whether or not prepared for the purposes of any law (including this Act), and includes statements, reports and notes (other than auditors’ reports or directors’ reports) attached to, or intended to be read with, any of the foregoing, but does not include statutory accounts.
pecuniary loss insurance business means the business of undertaking liability by way of insurance against any one or more of the following risks:
(a)
risks of loss to the persons insured arising from the insolvency of their debtors or from the failure (otherwise than through insolvency) of their debtors to pay their debts when due;
(b)
risks of loss to the persons insured arising from their having to perform contracts of guarantee;
(c)
risks of loss to the persons insured attributable to interruptions of the carrying on of business carried on by them;
(d)
risks of loss to the persons insured attributable to their incurring unforeseen expense.
personal information has the same meaning as in the Privacy Act 1988.
pre‑authorisation liability means a liability, contingent or otherwise, that is assumed (whether in Australia or elsewhere) by a body corporate that, after assuming the liability, becomes authorised under section 12 to carry on insurance business in Australia.
principal auditor, of a general insurer, means an auditor appointed by the insurer under paragraph 39(1)(a).
profit and loss account includes income and expenditure account, revenue account and any other account showing the results of the business of a body corporate for a period.
protected policy means a policy other than:
(a)
a policy prescribed by the regulations as not being a protected policy; and
(b)
a policy determined under section 62ZY not to be a protected policy.
prudential matters means matters relating to:
(a)
the conduct of any part of the affairs of, or the structuring or organising of, a general insurer, an authorised NOHC, a relevant group of bodies corporate, or a particular member or members of such a group, in such a way as:
(i)
to keep the general insurer, NOHC, group or member or members of the group in a sound financial position; or
(ii)
to facilitate resolution of the general insurer, NOHC, group or member or members of the group; or
(iii)
to protect the interests of policyholders of any general insurer; or
(iv)
not to cause or promote instability in the Australian financial system; or
(b)
the conduct of any part of the affairs of a general insurer, an authorised NOHC, a relevant group of bodies corporate, or a particular member or members of such a group, with integrity, prudence and professional skill.
prudential standard means a standard determined by APRA under section 32.
recapitalisation direction means a direction given by APRA under subsection 103B(1) or (1B).
related body corporate, in relation to a body corporate, means:
(a)
in Part V—a body corporate that is related to the first‑mentioned body, as determined in accordance with section 50; and
(b)
otherwise—a body corporate that is related to the first‑mentioned body, as determined in accordance with section 4B.
relevant group of bodies corporate has the meaning given by section 4A.
resolution means the process by which APRA or other relevant persons manage or respond to an entity:
(a)
being unable to meet its obligations; or
(b)
being considered likely to be unable, or being considered likely to become unable, to meet its obligations; or
(c)
suspending payment, or being considered likely to suspend payment;
including through the exercise of powers and functions under this Act or another law.
RSA has the same meaning as in the Retirement Savings Accounts Act 1997.
securities exchange means:
(a)
ASX Limited; or
(b)
a licensed market (within the meaning of the Corporations Act 2001) whose licence covers dealing in derivatives; or
(c)
any other body (whether in or outside Australia) approved by the Minister as a securities exchange for the purposes of this Act.
senior manager of a general insurer or a corporate agent means a person who has or exercises any of the senior management responsibilities (within the meaning of the prudential standards) for the insurer or agent.
share means a share in the capital of a body corporate, and includes stock.
statutory accounts, in relation to a body corporate, means the reporting documents that the body corporate is required under section 13 of the Financial Sector (Collection of Data) Act 2001 to lodge with APRA.
subsidiary has the meaning given by section 4.
transferred liabilities determination means a determination under subsection 62ZZMA(1).
wind up, in relation to a company, means wind up the company in accordance with the Corporations Act 2001.
yearly statutory accounts, in relation to a body corporate, means the reporting documents that the body corporate is required under section 13 of the Financial Sector (Collection of Data) Act 2001 to lodge with APRA in respect of a financial year.

(1A)
APRA may, in writing, authorise an APRA member or an APRA staff member to perform the functions of an authorised person under this Act.
(2)
The Minister may, by legislative instrument, give approvals for the purposes of paragraph (c) of the definition of securities exchange in subsection (1).
(4)
A reference in this Act to a general insurer having no liabilities in respect of insurance business carried on by it in Australia includes a reference to a general insurer who has assigned, other than by an equitable assignment, all of its interests (including rights and benefits) under all contracts of insurance in respect of insurance business carried on by it in Australia to another general insurer.
(5)
Without limiting the scope of what is incidental to insurance business for the purposes of the definition of insurance business in subsection (1), a business of a person is taken, for the purposes of that definition, to be a business incidental to insurance business to the extent that it involves one or more of the following kinds of acts:
(a)
inducing others to enter into contracts of insurance with the person as the insurer;
(b)
publishing or distributing a statement relating to the person’s willingness to enter into a contract of insurance as an insurer;
(c)
procuring the publication or distribution of such a statement.
(5A)
Subsection (5) does not apply if the contracts of insurance referred to in that subsection are contracts of reinsurance.
(6)
Without limiting the circumstances in which a person is taken, for the purposes of this Act, to carry on insurance business in Australia, a person is taken to carry on insurance business in Australia if:
(a)
the person carries on a business outside Australia that, under this Act, would constitute insurance business if it were carried on in Australia; and
(b)
another person in Australia acts:
(i)
directly or indirectly on behalf of the first‑mentioned person; or
(ii)
as a broker of insurance provided by the first‑mentioned person, or directly or indirectly on behalf of such a broker;
in relation to the business carried on outside Australia.
(6A)
Subsection (6) does not apply if the business referred to in paragraph (a) of that subsection is solely a business of reinsurance.
(7)
In considering for the purposes of this Act whether a person carries on insurance business in Australia, an act of a kind referred to in paragraph (5)(a), (b) or (c) done outside Australia is taken to occur in Australia to the extent that it has, or is likely to have, its effect in Australia.

3ACertain insurance contracts not taken to be insurance business

(1)
For the purposes of this Act, insurance business does not include undertaking liability under a contract of insurance, or a kind of contract of insurance:
(a)
specified in the regulations for the purposes of this subsection; or
(b)
in circumstances specified in the regulations for the purposes of this subsection.
(2)
Without limiting subsection (1), the regulations may specify a contract of insurance, a kind of contract of insurance, or circumstances, by reference to:
(a)
particular general insurance products (within the meaning of the Corporations Act 2001), or particular kinds of such products; or
(b)
particular persons, or particular kinds of persons, who are insured under a contract of insurance, or a kind of contract of insurance.
(3)
Without limiting subsection (1):
(a)
the regulations may specify a contract of insurance, a kind of contract of insurance, or circumstances, by reference to:
(i)
a decision of APRA or a person; or
(ii)
a certificate or other document issued by APRA or a person; and
(b)
if the regulations do so—the regulations may impose obligations on APRA or the person in relation to the decision, certificate or other document.

4Meaning of subsidiary

For the purposes of this Act (except Part V), the question whether a body corporate is a subsidiary of another body corporate is to be determined in the same way as that question is determined for the purposes of the Corporations Act 2001.

4AMeaning of relevant group of bodies corporate

For the purposes of this Act:
(a)
a general insurer and its subsidiaries together constitute a relevant group of bodies corporate; and
(b)
an authorised NOHC and its subsidiaries together also constitute a relevant group of bodies corporate.

4BDetermining whether bodies corporate are related to one another

For the purposes of this Act (except Part V), the question whether a body corporate is related to another body corporate is to be determined in the same way as that question is determined for the purposes of the Corporations Act 2001.

5Application of Act

(1)
This Act does not apply to State insurance whether or not extending beyond the limits of the State concerned.
(2)
This Act does not apply to or with respect to insurance business carried on by:
(a)
the Commonwealth (including the Territories); or
(b)
a body corporate prescribed by the regulations; or
(c)
a body corporate, being insurance business of a kind prescribed by the regulations.

6Act extends to external Territories

This Act extends to every external Territory.

7Determination that certain provisions do not apply

(1)
APRA may, in writing, determine that any or all of the following provisions of this Act do not apply to a person while the determination is in force:
(a)
a provision of Part III (other than a provision of Division 3A of that Part);
(b)
section 35;
(c)
section 39;
(d)
section 41;
(e)
a provision of Division 3 or 4 of Part IV;
(f)
section 49Q;
(g)
section 117;
(h)
section 118;
(i)
section 120;
(j)
section 121.
(2)
The determination may:
(a)
be expressed to apply to a particular person or to a class of persons; and
(b)
specify the period during which the determination is in force; and
(c)
be made subject to specified conditions.
(2A)
If APRA makes a determination that applies to a particular person, APRA must also give the person written notice of the determination.
(3)
APRA may, in writing, vary or revoke a determination under this section.
(4)
The following instruments made under this section are not legislative instruments:
(a)
a determination that applies to a particular person;
(b)
an instrument varying or revoking a determination that applies to a particular person.
(5)
Otherwise, an instrument made under this section is a legislative instrument.
(6)
Part VI applies to the following decisions made under this section:
(a)
a refusal to determine that one or more provisions of this Act do not apply to a particular person;
(b)
a decision to impose conditions on, or specify a period in, a determination made under this section in relation to a particular person;
(c)
a decision to vary or revoke a determination made under this section in relation to a particular person.

7ABreach of condition of a determination

(1)
A person commits an offence if:
(a)
the person does an act or fails to do an act; and
(b)
doing the act or failing to do the act results in a breach of a condition to which a determination in force under subsection 7(1) is subject; and
(c)
the determination applies to the person.
Penalty: 60 penalty units.
(2)
An offence against this section is an offence of strict liability.
Note 1: For strict liability, see section 6.1 of the Criminal Code.
Note 2: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
Note 3: If a body corporate is convicted of an offence against this section, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty above.

Part IIAdministration 8General administration of Act

(1)
Subject to subsections (2) and (3), APRA has the general administration of this Act.
(2)
ASIC has the general administration of section 114.
(3)
The Minister may give APRA or ASIC directions about the performance or exercise of its functions or powers under this Act.

Part IIIAuthorisation to carry on insurance businessDivision 1Need to be authorised9Persons other than bodies corporate and Lloyd’s underwriters carrying on insurance business

(1)
A person commits an offence if:
(a)
the person carries on insurance business in Australia; and
(b)
the person is not a body corporate or a Lloyd’s underwriter; and
(c)
there is no determination in force under subsection 7(1) that this subsection does not apply to the person (the effect of which is to allow the person to carry on insurance business without being authorised under the Act to do so).
Penalty: 60 penalty units.
(2)
An offence against subsection (1) is an offence of strict liability.
Note 1: For strict liability, see section 6.1 of the Criminal Code.
Note 2: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

10Bodies corporate and Lloyd’s underwriters carrying on insurance business

(1)
A body corporate (other than a Lloyd’s underwriter) commits an offence if:
(a)
the body corporate carries on insurance business in Australia; and
(b)
the body corporate is not a general insurer; and
(c)
there is no determination in force under subsection 7(1) that this subsection does not apply to the body corporate (the effect of which is to exempt the body corporate from being authorised under the Act to carry on insurance business).
Penalty: 60 penalty units.
(2)
A Lloyd’s underwriter commits an offence if:
(a)
the underwriter carries on any insurance business in Australia; and
(b)
the underwriter does so at any time after section 93 has ceased to have effect; and
(c)
there is no determination in force under subsection 7(1) that this subsection does not apply to the underwriter (the effect of which is to exempt the underwriter from being authorised under the Act to carry on insurance business).
Penalty: 60 penalty units.
(3)
An offence against this section is an offence of strict liability.
Note 1: For strict liability, see section 6.1 of the Criminal Code.
Note 2: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
Note 3: If a body corporate is convicted of an offence against this section, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty above.

11Meaning of general insurer

A general insurer is a body corporate that is authorised under section 12 to carry on insurance business in Australia.
Note: General insurer includes a foreign general insurer (see the definition of foreign general insurer in subsection 3(1)).

11AInjunctions

Restraining injunctions
(1)
If a person has engaged, is engaging or is proposing to engage, in conduct that constituted, constitutes or would constitute:
(a)
a contravention of section 9 or 10; or
(b)
attempting to contravene section 9 or 10; or
(c)
aiding, abetting, counselling or procuring a person to contravene section 9 or 10; or
(d)
inducing or attempting to induce, whether by threats, promises or otherwise, a person to contravene section 9 or 10; or
(e)
being in any way, directly or indirectly, knowingly concerned in, or party to, the contravention by a person of section 9 or 10; or
(f)
conspiring with others to contravene section 9 or 10;
the Federal Court may, on the application of APRA or a person whose interests have been, are or would be affected by the conduct, grant an injunction in accordance with subsection (2).
(2)
The injunction:
(a)
may restrain the person from engaging in the conduct; and
(b)
may also require that person to do a particular act or thing, if the Court thinks it desirable to do so.
The Court may grant the injunction on such terms as it thinks appropriate.
(3)
The power of the Court to grant an injunction restraining a person from engaging in conduct may be exercised:
(a)
whether or not it appears to the Court that the person intends to engage again, or to continue to engage, in conduct of that kind; and
(b)
whether or not the person has previously engaged in conduct of that kind; and
(c)
whether or not there is an imminent danger of substantial damage to any other person if the person engages in conduct of that kind.
Interim injunctions
(4)
The Court may grant an interim injunction pending determination of an application under subsection (1) if in the Court’s opinion it is desirable to do so.
Consent injunctions
(5)
If an application for an injunction under subsection (1) has been made, the Court may, if the Court thinks it appropriate, grant an injunction by consent of all the parties to the proceedings, whether or not the Court is satisfied that the subsection applies.
Variation or discharge of injunctions
(6)
The Court may discharge or vary an injunction granted under subsection (1) or (5).
Damages undertakings
(7)
APRA cannot be required, as a condition of granting an interim injunction, to give an undertaking as to damages.
Damages orders
(8)
If the Court has power under this section to grant an injunction restraining a person from engaging in particular conduct, or requiring a person to do a particular act or thing, the Court may, either in addition to or in substitution for the grant of the injunction, order that person to pay damages to any other person.
Federal Court’s other powers unaffected
(9)
The powers conferred on the Court by this section are in addition to any other of its powers, and do not derogate from its other powers.

Division 2Authorisation to carry on insurance business12Obtaining an authorisation

(1)
A body corporate may apply in writing to APRA for an authorisation to carry on insurance business in Australia.
Note: The body corporate may also need to consider the implications of the Foreign Acquisitions and Takeovers Act 1975, the Financial Sector (Shareholdings) Act 1998 and the Insurance Acquisitions and Takeovers Act 1991.
(1A)
APRA may require the body corporate to provide a statutory declaration in relation to information or documents provided in relation to the application.
(1B)
APRA may, by legislative instrument, set criteria for the authorisation of a body corporate to carry on insurance business in Australia.
(2)
APRA may authorise an applicant to carry on insurance business in Australia. The authorisation must be in writing.
(3)
Without limiting the circumstances in which APRA may refuse an application, APRA may refuse an application if the applicant is a subsidiary of another body corporate that is not an authorised NOHC.
(3A)
Without limiting the circumstances in which APRA may refuse an application, APRA must refuse an application if:
(a)
an arrangement under which medical indemnity cover is provided for a health care professional was entered into before 1 July 2003; and
(b)
the arrangement was not effected by means of a contract of insurance; and
(c)
the applicant may pay, or may have to pay, an amount under the arrangement at some time after the time when the application is made.
Expressions used in paragraph (a) have the same meaning as they have in the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003.
Note 1: This means that an applicant that is an MDO (medical defence organisation) that entered into discretionary medical indemnity arrangements before 1 July 2003 cannot be granted an authorisation under this section while amounts remain potentially payable by the applicant under those arrangements.
Note 2: All medical indemnity arrangements (arrangements under which medical indemnity cover is provided for health care professionals) that are entered into, come into effect or are renewed on or after 1 July 2003 must be by way of contracts of insurance (see section 10 of the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003).
(4)
If APRA authorises an applicant, APRA must:
(a)
give written notice to the applicant; and
(b)
ensure that notice of the authorisation is published in the Gazette.
(5)
The taking of an action is not invalid merely because of a failure to comply with subsection (4).
(6)
Part VI applies to a refusal of APRA to authorise an applicant under this section.

13Conditions on an authorisation

(1)
APRA may, at any time, by giving written notice to a general insurer:
(a)
impose conditions, or additional conditions, on the insurer’s authorisation under section 12; or
(b)
vary or revoke conditions imposed on the insurer’s authorisation under section 12.
The conditions must relate to prudential matters.
(2)
A condition may be expressed to have effect despite anything in the prudential standards.
(3)
Without limiting the conditions that APRA may impose on an authorisation, APRA may make the authorisation conditional on a body corporate, of which the general insurer is a subsidiary, being an authorised NOHC.
(4)
If APRA imposes, varies or revokes the conditions on a general insurer’s authorisation, APRA must:
(a)
give written notice to the insurer; and
(b)
ensure that notice that the action has been taken is published in the Gazette.
(5)
The taking of an action is not invalid merely because of a failure to comply with subsection (4).
(6)
Part VI applies to the following decisions made under this section:
(a)
a decision to impose conditions, or additional conditions, on an insurer’s authorisation under section 12;
(b)
a decision to vary conditions imposed on an insurer’s authorisation under section 12.

14Breach of authorisation conditions

(1)
A general insurer commits an offence if:
(a)
the insurer does an act or fails to do an act; and
(b)
doing the act or failing to do the act results in a contravention of a condition of the insurer’s authorisation under section 12; and
(c)
there is no determination in force under subsection 7(1) that this subsection does not apply to the insurer.
Penalty: 300 penalty units.
(1A)
If an individual:
(a)
commits an offence against subsection (1) because of Part 2.4 of the Criminal Code; or
(b)
commits an offence under Part 2.4 of the Criminal Code in relation to an offence against subsection (1);
he or she is punishable, on conviction, by a fine not exceeding 60 penalty units.
(2)
An offence against this section is an offence of strict liability.
Note 1: For strict liability, see section 6.1 of the Criminal Code.
Note 2: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Division 3Revocation of an authorisation15Revocation of authorisation etc.

(1)
APRA may revoke (in writing) a general insurer’s authorisation under section 12 if APRA is satisfied that the insurer has no liabilities in respect of insurance business carried on by it in Australia and that:
(a)
the insurer has failed to comply with:
(i)
a requirement of this Act (including the requirement to comply with the prudential standards) or of an instrument made for the purposes of this Act; or
(ii)
a requirement of the Financial Sector (Collection of Data) Act 2001; or
(iiaa)
a requirement of the Financial Accountability Regime Act 2023; or
(iia)
a requirement of a provision of another law of the Commonwealth, if the provision is specified in the regulations; or
(iii)
a direction under this Act to the insurer; or
(iv)
a condition of the insurer’s authorisation; or
(b)
it would be contrary to the national interest for the authorisation to remain in force; or
(c)
the insurer has failed to pay:
(i)
an amount of levy or late penalty to which the Financial Institutions Supervisory Levies Collection Act 1998 applies; or
(ii)
an amount of charge fixed under section 51 of the Australian Prudential Regulation Authority Act 1998; or
(d)
the insurer is insolvent and is unlikely to return to solvency within a reasonable period of time; or
(e)
the insurer has inadequate capital and is unlikely to have adequate capital within a reasonable period of time; or
(f)
the insurer has ceased to carry on insurance business in Australia; or
(fa)
both of the following apply:
(i)
the insurer is a foreign corporation within the meaning of paragraph 51(xx) of the Constitution;
(ii)
an authorisation (however described) for the insurer to carry on insurance business in a foreign country has been revoked or otherwise withdrawn in that foreign country; or
(g)
the insurer has not, within the period of 12 months after it was granted an authorisation under this Part, carried on insurance business in Australia.
(3)
Before revoking a general insurer’s authorisation, APRA must give written notice to the insurer advising it that:
(a)
APRA is considering revoking the authorisation for the reasons specified; and

(b)
the insurer may make submissions about the revocation to APRA, in accordance with the notice, by a specified date (which must be at least 90 days after the notice is given).
(3A)
To avoid doubt, APRA may give a notice under subsection (3) to a general insurer even if, at the time the notice is given, APRA is not satisfied that the insurer has no liabilities in respect of insurance business carried on by it in Australia.
(3B)
If APRA gives a notice under subsection (3) to a general insurer, APRA must not revoke the insurer’s authorisation until after the date specified in the notice, and after consideration of any submission, as mentioned in paragraph (3)(b).
(4)
APRA may decide that subsection (3) does not apply if APRA is satisfied that complying with that subsection could result in a delay in revocation that would be contrary to the national interest.
(5)
If APRA revokes a general insurer’s authorisation, APRA must:
(a)
give written notice to the insurer; and
(b)
ensure that notice of the revocation is published in the Gazette.
(6)
A revocation is not invalid merely because of a failure to comply with subsection (5).
(7)
Part VI applies to a decision to revoke a general insurer’s authorisation under section 12.

16When APRA must revoke a general insurer’s authorisation

(1)
APRA must revoke (in writing) a general insurer’s authorisation under section 12 if:
(a)
the insurer asks (in writing) APRA to do so; and
(b)
APRA is satisfied that:
(i)
the insurer has no liabilities in respect of insurance business carried on by it in Australia; and
(ii)
revoking the authorisation would not be contrary to the national interest.
(2)
If APRA revokes a general insurer’s authorisation, APRA must:
(a)
give written notice to the insurer; and
(b)
ensure that notice of the revocation is published in the Gazette.
(3)
A revocation is not invalid merely because of a failure to comply with subsection (2).

16AContinuation of effect of general insurer’s authorisation

If APRA gives a notice of revocation of a general insurer’s authorisation under subsection 15(5) or 16(2), the notice may state that the authorisation continues in effect in relation to a specified matter or specified period, as though the revocation had not happened, for the purposes of:
(a)
a specified provision of this Act or the regulations; or
(b)
a specified provision of another law of the Commonwealth that is administered by APRA; or
(c)
a specified provision of the prudential standards;
and the statement has effect accordingly.

17Assignment of liabilities to enable revocation

(1)
If APRA considers that it would, under section 15, revoke a general insurer’s authorisation if the insurer had no liabilities in respect of insurance business carried on by it in Australia, APRA may direct the insurer to arrange, subject to APRA’s approval, to assign those liabilities to one or more other general insurers. The insurer must effect the assignment of the liabilities within the period specified in the direction and comply with such conditions relating to the assignment as are specified by APRA in the direction.
(2)
Subsection (1) has effect despite subsection 17B(1).
Note: A general insurer who has asked APRA for a revocation under section 16 may, for the purpose of obtaining the revocation, make an application to the Federal Court under Division 3A for an order transferring the insurer’s insurance business to another general insurer.
(3)
A general insurer must not assign its liabilities under this section, and a purported assignment under this section is of no effect, unless the assignment is approved by APRA under subsection (4).
(4)
APRA may only approve a proposed assignment of a general insurer’s liabilities under this section if APRA is satisfied that the assignment is appropriate, having regard to:
(a)
the interests of the insurer’s policyholders; and
(b)
the interests of the policyholders of the general insurer or insurers to whom the liabilities are to be assigned; and
(c)
the national interest; and
(d)
any other matter APRA considers relevant.
The approval must be in writing and may be made subject to specified conditions.
(4A)
Where a general insurer (the first general insurer) accepts an assignment of liabilities from another general insurer (the second general insurer) approved by APRA under subsection 17(4), the following are taken to have occurred:
(a)
policies in respect of which liability is accepted by the first general insurer (the transferring policies) are to be treated for all purposes as if each policy had been transferred by novation from the second general insurer to the first general insurer;
(b)
a policyholder of a transferring policy is taken to have the same rights against the first general insurer as the person would have against that insurer had the person’s policy been transferred by novation to the first general insurer;
(c)
the rights of the first general insurer against policyholders of transferring policies are the same as they would be had the transferring policies been transferred by novation to the first general insurer from the second general insurer.
(5)
If APRA approves an assignment, the general insurer must:
(a)
comply with the conditions on the approval; and
(b)
give reasonable notice (in writing) of the assignment to the insurer’s policyholders; and
(c)
give APRA such written evidence of the assignment as APRA reasonably requires.
(6)
An assignment of liabilities under this section may include the assignment of any rights or benefits in connection with contracts of insurance in respect of the insurance business carried on in Australia by the general insurer concerned.
(7)
A direction under subsection (1) has effect despite anything in the Insurance Acquisitions and Takeovers Act 1991.
(8)
A general insurer commits an offence if:
(a)
the insurer does, or fails to do, an act; and
(b)
by doing or failing to do the act, the insurer fails to comply with a direction under this section.
Penalty: 300 penalty units.
(8A)
If an individual:
(a)
commits an offence against subsection (8) because of Part 2.4 of the Criminal Code; or
(b)
commits an offence under Part 2.4 of the Criminal Code in relation to an offence against subsection (8);
he or she is punishable, on conviction, by a fine not exceeding 60 penalty units.
(9)
An offence against this section is an offence of strict liability.
Note 1: For strict liability, see section 6.1 of the Criminal Code.
Note 2: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
(10)
Part VI applies to the following decisions made under this section:
(a)
a decision to give a direction under subsection (1);
(b)
a refusal to approve a proposed assignment under subsection (4);
(c)
a decision to impose conditions on an approval.

Division 3ATransfer and amalgamation of insurance business17AInterpretation

A reference in this Division to a body corporate affected by a scheme is a reference to a body corporate that is a party or proposed party to an agreement or deed by which the transfer or amalgamation provided for by the scheme is, or is to be, carried out.

17BTransfer or amalgamation of insurance business

(1)
No part of the insurance business of a general insurer may be:
(a)
transferred to another general insurer; or
(b)
amalgamated with the business of another general insurer;
except under a scheme confirmed by the Federal Court.
Note: A transfer or amalgamation of an insurance business may also require approval under the Insurance Acquisitions and Takeovers Act 1991.
(2)
The reference in paragraph (1)(a) to a general insurer includes a reference to a body corporate that is authorised under this Act but has not begun to carry on insurance business in Australia.
(3)
A scheme must set out:
(a)
the terms of the agreement or deed under which the proposed transfer or amalgamation is carried out; and
(b)
particulars of any other arrangements necessary to give effect to the scheme.
(4)
Subsection (1) does not require that a transfer or amalgamation of insurance business be made under a scheme approved by the Federal Court if:
(a)
immediately before the transfer or amalgamation, the insurance business is carried on outside Australia; and
(b)
the transfer or amalgamation will result in the insurance business being carried on outside Australia.

17CSteps to be taken before application for confirmation

(1)
In this section:
affected policyholder means the holder of a policy affected by a scheme.
approved summary means a summary approved by APRA.
(2)
An application for confirmation of a scheme may not be made unless:
(a)
a copy of the scheme and any actuarial report on which the scheme is based have been given to APRA in accordance with the prudential standards; and
(b)
notice of intention to make the application has been published by the applicant in accordance with the prudential standards; and
(c)
an approved summary of the scheme has been given to every affected policyholder.
(3)
Without limiting the provision that may be made by the prudential standards for the purposes of paragraph (2)(b), the notice referred to in that paragraph must include, in relation to each body corporate affected by the scheme, details of the place and time at which an affected policyholder may obtain a copy of the scheme.
(4)
An affected policyholder is entitled, on the person’s request, to be provided by the company with one copy of the scheme free of charge.
(5)
The Federal Court may dispense with the need for compliance with paragraph (2)(c) in relation to a particular scheme if it is satisfied that, because of the nature of the scheme or the circumstances attending its preparation, it is not necessary that the paragraph be complied with.

17DActuarial report on scheme

(1)
When a copy of a scheme has been given to APRA for the purpose of paragraph 17C(2)(a), APRA may arrange for an independent actuary to make a written report on the scheme.
(2)
APRA may give a copy of the report to each body corporate affected by the scheme.

17EApplication to Court

(1)
Any of the bodies corporate affected by a scheme may apply to the Federal Court for confirmation of the scheme.
(2)
An application for confirmation must be made in accordance with the prudential standards.
(3)
APRA is entitled to be heard on an application.

17FConfirmation of scheme

(1)
The Federal Court may:
(a)
confirm a scheme without modification; or
(b)
confirm the scheme subject to such modifications as it thinks appropriate; or
(c)
refuse to confirm the scheme.
(1A)
In deciding whether to confirm a scheme (with or without modifications), the Federal Court must have regard to:
(a)
the interests of the policyholders of a body corporate affected by the scheme; and
(b)
if a report relevant to all or part of the scheme has been filed with the Court under section 62ZI—that report; and
(c)
any other matter the Court considers relevant.
(2)
The Federal Court may make such orders as it thinks fit in relation to reinsurance.

17GEffect of confirmation etc.

When a scheme is confirmed:
(a)
it becomes binding on all persons; and
(b)
it has effect in spite of anything in the constitution of any body corporate affected by the scheme; and
(c)
the body corporate on whose application the scheme was confirmed must cause a copy of the scheme to be lodged at an office of ASIC in every State and Territory in which a company affected by the scheme carried on business.

17HCosts of actuary’s report

(1)
When a scheme is confirmed, the body corporate that applied for the confirmation becomes liable to pay to the Commonwealth an amount equal to the expenses reasonably incurred by APRA in obtaining a report under section 17D in relation to the scheme.
(2)
An amount due under subsection (1) may be recovered by the Commonwealth as a debt in any court of competent jurisdiction.

17IDocuments to be lodged in case of transfer or amalgamation

(1)
If any part of the insurance business carried on by a general insurer is transferred to, or amalgamated with, the insurance business of another body corporate, the latter body corporate must give APRA such documents as are required by the prudential standards.
(2)
The documents must be lodged within the time fixed by the prudential standards or within such further time as APRA, in accordance with the prudential standards, allows.

Division 4Authorisation to be a NOHC of a general insurer18Authorisation to be a NOHC

(1)
A body corporate may apply in writing to APRA for an authorisation (a NOHC authorisation) under this section. The authorisation operates as an authorisation in relation to the body corporate and any general insurers that are subsidiaries of the body corporate from time to time.
Note 1: The body corporate may want the authority because APRA may refuse to grant a subsidiary of the body corporate a section 12 authorisation unless the body corporate holds a NOHC authorisation (see subsection 12(3)).
Note 2: The body corporate may also need to consider the implications of the Foreign Acquisitions and Takeovers Act 1975, the Financial Sector (Shareholdings) Act 1998 and the Insurance Acquisitions and Takeovers Act 1991.
(2)
APRA may require the body corporate to provide a statutory declaration in relation to information or documents provided in relation to the application.
(2A)
APRA may, by legislative instrument, set criteria for the granting of an authorisation under this section.
(3)
APRA may authorise an applicant if it considers it is appropriate to do so. The authorisation must be in writing.
(4)
If APRA authorises an applicant, APRA must:
(a)
give written notice to the applicant; and
(b)
ensure that notice of the authorisation is published in the Gazette.
(5)
The taking of an action is not invalid merely because of a failure to comply with subsection (4).
(6)
Part VI applies to a refusal of APRA to authorise an applicant under this section.

19Conditions on a NOHC authorisation

(1)
APRA may, at any time, by giving written notice to an authorised NOHC:
(a)
impose conditions, or additional conditions, on the NOHC authorisation; and
(b)
vary or revoke conditions imposed on the NOHC authorisation.
The conditions must relate to prudential matters.
(2)
A condition may be expressed to have effect despite anything in the prudential standards.
(3)
If APRA imposes, varies or revokes the conditions on a NOHC authorisation, APRA must:
(a)
give written notice to the authorised NOHC; and
(b)
ensure that notice of the imposition, variation or revocation of the conditions is published in the Gazette.
(4)
The taking of an action is not invalid merely because of a failure to comply with subsection (3).
(5)
Part VI applies to the following decisions made under this section:
(a)
a decision to impose conditions, or additional conditions, on a NOHC authorisation;
(b)
a decision to vary conditions imposed on a NOHC authorisation.

20Breach of conditions on a NOHC authorisation

(1)
An authorised NOHC commits an offence if:
(a)
the NOHC does an act or fails to do an act; and
(b)
doing the act or failing to do the act results in a contravention of a condition of the NOHC authorisation; and
(c)
there is no determination in force under subsection 7(1) that this subsection does not apply to the NOHC.
Penalty: 300 penalty units.
(1A)
If an individual:
(a)
commits an offence against subsection (1) because of Part 2.4 of the Criminal Code; or
(b)
commits an offence under Part 2.4 of the Criminal Code in relation to an offence against subsection (1);
he or she is punishable, on conviction, by a fine not exceeding 60 penalty units.
(2)
An offence against this section is an offence of strict liability.
Note 1: For strict liability, see section 6.1 of the Criminal Code.
Note 2: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

21When APRA may revoke a NOHC authorisation

(1)
APRA may revoke, in writing, a NOHC authorisation if APRA is satisfied that:
(a)
the authorised NOHC has failed to comply with:
(i)
a requirement of this Act (including the requirement to comply with the prudential standards) or of an instrument made for the purposes of this Act; or
(ii)
a requirement of the Financial Sector (Collection of Data) Act 2001; or
(iiaa)
a requirement of the Financial Accountability Regime Act 2023; or
(iia)
a requirement of a provision of another law of the Commonwealth, if the provision is specified in the regulations; or
(iii)
a direction under this Act to the authorised NOHC; or
(iv)
a condition of the authorisation; or
(b)
it would be contrary to the national interest for the authorisation to remain in force; or
(c)
the authorised NOHC has failed to pay:
(i)
an amount of levy or late penalty to which the Financial Institutions Supervisory Levies Collection Act 1998 applies; or
(ii)
an amount of charge fixed under section 51 of the Australian Prudential Regulation Authority Act 1998; or
(d)
it would be contrary to the interests of the policyholders of any general insurer who is a subsidiary of the authorised NOHC for the authorisation to remain in force; or
(e)
the authorised NOHC has ceased to be a NOHC of any general insurer.
(3)
Before revoking a NOHC authorisation, APRA must give written notice to the authorised NOHC advising it that:
(a)
APRA is considering revoking the authorisation for the reasons specified; and
(b)
the authorised NOHC may make submissions about the revocation to APRA, in accordance with the notice, by a specified date (which must be at least 90 days after the notice is given).
APRA must consider any submissions made by the authorised NOHC by that date.
(4)
APRA may decide that subsection (3) does not apply if APRA is satisfied that complying with that subsection could result in a delay in revocation that would be:
(a)
contrary to the national interest; or
(b)
contrary to the interests of the policyholders of any general insurer who is a subsidiary of the authorised NOHC concerned.
(5)
If APRA revokes a body corporate’s NOHC authorisation, APRA must:
(a)
give written notice to the body corporate; and
(b)
ensure that notice of the revocation is published in the Gazette.
(6)
A revocation is not invalid merely because of a failure to comply with subsection (5).
(7)
Part VI applies to a decision to revoke a NOHC authorisation.

22When APRA must revoke a NOHC authorisation

(1)
APRA must revoke (in writing) a body corporate’s NOHC authorisation if:
(a)
the body corporate asks (in writing) APRA to do so; and
(b)
APRA is satisfied that revoking the authorisation would not be contrary to either:
(i)
the national interest; or
(ii)
the interests of the policyholders of any general insurer who is a subsidiary of the body corporate.
(2)
If APRA revokes a body corporate’s NOHC authorisation, APRA must:
(a)
give written notice to the body corporate; and
(b)
ensure that notice of the revocation is published in the Gazette.
(3)
A revocation is not invalid merely because of a failure to comply with subsection (2).

22AContinuation of effect of body corporate’s NOHC authorisation

If APRA gives a notice of revocation of a body corporate’s NOHC authorisation under subsection 21(5) or 22(2), the notice may state that the authorisation continues in effect in relation to a specified matter or specified period, as though the revocation had not happened, for the purposes of:
(a)
a specified provision of this Act or the regulations; or
(b)
a specified provision of another law of the Commonwealth that is administered by APRA; or
(c)
a specified provision of the prudential standards;
and the statement has effect accordingly.

23Publication of list of authorised NOHCs

APRA may, from time to time, cause a list of authorised NOHCs to be published in the Gazette or in any other way that APRA considers appropriate.

23AAPRA may give notice to ensure that general insurer has an authorised NOHC

(1)
This section applies if:
(a)
a body corporate is a holding company of a general insurer; and
(b)
the general insurer is not a subsidiary of an authorised NOHC.
(2)
APRA may, by notice in writing to the body corporate, require it to ensure, in accordance with the conditions (if any) specified in the notice, that either of the following occurs:
(a)
the body corporate becomes an authorised NOHC of the general insurer;
(b)
a subsidiary of the body corporate becomes an authorised NOHC of the general insurer.

Note: See Part 4A of the Financial Sector (Transfer and Restructure) Act 1999 for other provisions that deal with a restructure arrangement to make an operating body a subsidiary of a NOHC.
(3)
The notice may deal with the time by which, or period during which, it is to be complied with.
(4)
The body corporate has power to comply with the notice despite anything in its constitution or any contract or arrangement to which it is a party.
(5)
APRA may, by notice in writing to the body corporate, vary the notice mentioned in subsection (2) if, at the time of the variation, it considers that the variation is necessary and appropriate.
(6)
The notice mentioned in subsection (2) has effect until APRA revokes it by notice in writing to the body corporate. APRA may revoke the notice mentioned in subsection (2) if, at the time of revocation, it considers that the notice is no longer necessary or appropriate.
(7)
Part VI applies to a decision to give a notice under subsection (2).
(8)
Section 108 applies in relation to a notice to a body corporate under subsection (2) in the same way in which it applies to a direction to a general insurer under section 104.
(9)
However, section 108 does not apply to a contravention by a body corporate of a requirement in a notice under subsection (2) if:
(a)
the contravention happens merely because APRA refuses to authorise the body corporate (or its subsidiary) under section 18; and
(b)
APRA’s reasons for that refusal do not include the reason that one or more conditions specified in the notice are not satisfied.

Division 5Directors, senior managers and other representatives of general insurers and authorised NOHCs24Disqualified persons must not act for general insurers or authorised NOHCs

(1)
A person commits an offence if:
(a)
the person is a disqualified person; and
(b)
the person is or acts as one of the following:
(i)
a director or senior manager of a general insurer (other than a foreign general insurer);
(ii)
a senior manager, or agent in Australia for the purpose of section 118, of a foreign general insurer;
(iii)
a director or senior manager of an authorised NOHC;
(iv)
a director or senior manager of a corporate agent; and
(c)
for a person who is a disqualified person only because he or she was disqualified under section 25A—the person is disqualified from being or acting as that director, senior manager or agent in Australia (as the case requires).
Penalty: Imprisonment for 2 years.
(2)
A person commits an offence if:
(a)
the person is a disqualified person; and
(b)
the person is or acts as one of the following:
(i)
a director or senior manager of a general insurer (other than a foreign general insurer);
(ii)
a senior manager, or agent in Australia for the purpose of section 118, of a foreign general insurer;
(iii)
a director or senior manager of an authorised NOHC;
(iv)
a director or senior manager of a corporate agent; and
(c)
for a person who is a disqualified person only because he or she was disqualified under section 25A—the person is disqualified from being or acting as that director, senior manager or agent in Australia (as the case requires).
Penalty: 60 penalty units.
(3)
Subsection (2) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.
(4)
A body corporate commits an offence if:
(a)
a person is a disqualified person; and
(b)
the person is or acts as one of the following:
(i)
if the body corporate is a general insurer (other than a foreign general insurer)—a director or senior manager of the insurer;
(ii)
if the body corporate is a foreign general insurer—a senior manager, or agent in Australia for the purpose of section 118, of the insurer;
(iii)
if the body corporate is an authorised NOHC—a director or senior manager of the NOHC;
(iv)
if the body corporate is a corporate agent—a director or senior manager of the corporate agent; and
(c)
for a person who is a disqualified person only because he or she was disqualified under section 25A—the person is disqualified from being or acting as that director, senior manager or agent in Australia (as the case requires); and
(d)
in any case—the body corporate allows the person to be or act as a director, senior manager or agent in Australia (as the case requires).
Penalty: 250 penalty units.
(5)
A body corporate commits an offence if:
(a)
a person is a disqualified person; and
(b)
the person is or acts as one of the following:
(i)
if the body corporate is a general insurer (other than a foreign general insurer)—a director or senior manager of the insurer;
(ii)
if the body corporate is a foreign general insurer—a senior manager, or agent in Australia for the purpose of section 118, of the insurer;
(iii)
if the body corporate is an authorised NOHC—a director or senior manager of the NOHC;
(iv)
if the body corporate is a corporate agent—a director or senior manager of the corporate agent; and
(c)
for a person who is a disqualified person only because he or she was disqualified under section 25A—the person is disqualified from being or acting as that director, senior manager or agent in Australia (as the case requires); and
(d)
in any case—the body corporate allows the person to be or act as a director, senior manager or agent in Australia (as the case requires).
Penalty: 60 penalty units.
(6)
Subsection (5) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.
(8)
A failure to comply with this section does not affect the validity of an appointment or transaction.
Note 1: For strict liability, see section 6.1 of the Criminal Code.
Note 2: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
Note 3: If a body corporate is convicted of an offence against this section, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty above.

25Who is a disqualified person?

(1)
A person is a disqualified person if, at any time:
(a)
the person has been convicted of an offence against or arising out of:
(i)
this Act; or
(ii)
the Financial Sector (Collection of Data) Act 2001; or
(iia)
the Financial Accountability Regime Act 2023; or
(iii)
the Corporations Act 2001, the Corporations Law that was previously in force, or any law of a foreign country that corresponds to that Act or to that Corporations Law; or
(b)
the person has been convicted of an offence against or arising out of a law in force in Australia, or the law of a foreign country, if the offence concerns dishonest conduct or conduct relating to a financial sector company (within the meaning of the Financial Sector (Shareholdings) Act 1998); or
(c)
in a case where the person is an individual:
(i)
the individual has been or becomes bankrupt; or
(ii)
the individual has applied to take the benefit of a law for the relief of bankrupt or insolvent debtors; or
(iii)
the individual has compounded with his or her creditors; or
(d)
in a case where the person is a corporate agent:
(i)
the corporate agent knows, or has reasonable grounds to suspect, that a person who is, or is acting as, a director or senior manager of the corporate agent is a disqualified person; or
(ii)
a receiver, or a receiver and manager, has been appointed in respect of property owned by the corporate agent; or
(iii)
an administrator has been appointed in respect of the corporate agent; or
(iv)
a provisional liquidator has been appointed in respect of the corporate agent; or
(v)
the corporate agent has begun to be wound up; or
(f)
the Federal Court of Australia has disqualified the person under section 25A.
Note: The Federal Court of Australia may determine that a person is not a disqualified person (see section 26).
(2)
A reference in subsection (1) to a person who has been convicted of an offence includes a reference to a person in respect of whom an order has been made relating to the offence under:
(a)
section 19B of the Crimes Act 1914; or
(b)
a corresponding provision of a law of a State, a Territory or a foreign country.
(3)
Nothing in this section affects the operation of Part VIIC of the Crimes Act 1914 (which includes provisions that, in certain circumstances, relieve persons from the requirement to disclose spent convictions and require persons aware of such convictions to disregard them).

25ACourt power of disqualification

(1)
On application by APRA, the Federal Court of Australia may, by order, disqualify a person from being or acting as a person referred to in subsection (2), for a period that the Court considers appropriate, if the Court is satisfied that:
(a)
the person is not a fit and proper person to be or act as such a person; and
(b)
the disqualification is justified.
(2)
For the purposes of subsection (1), the Court may disqualify a person from being or acting as one or more of the following:
(a)
a director or senior manager of:
(i)
a particular general insurer; or
(ii)
a class of general insurers; or
(iii)
any general insurer;
(other than a particular foreign general insurer, a class of foreign general insurers or any foreign general insurer);
(b)
a senior manager, or agent in Australia for the purpose of section 118, of:
(i)
a particular foreign general insurer; or
(ii)
a class of foreign general insurers; or
(iii)
any foreign general insurer;
(c)
a director or senior manager of:
(i)
a particular authorised NOHC; or
(ii)
a class of authorised NOHCs; or
(iii)
any authorised NOHC;
(d)
a director or senior manager of:
(i)
a particular corporate agent; or
(ii)
a class of corporate agents; or
(iii)
any corporate agent.
(3)
In deciding whether it is satisfied as mentioned in paragraph (1)(a), the Court may take into account:
(a)
any matters specified in the regulations for the purposes of this paragraph; and
(b)
any criteria for fitness and propriety set out in the prudential standards; and
(c)
any other matters the Court considers relevant.
(4)
In deciding whether the disqualification is justified as mentioned in paragraph (1)(b), the Court may have regard to:
(a)
the person’s conduct in relation to the management, business or property of any corporation; and
(b)
any other matters the Court considers relevant.
(5)
As soon as practicable after the Court disqualifies a person under this section, APRA must cause particulars of the disqualification:
(a)
to be given:
(i)
if the person is, or is acting as, a person referred to in subparagraph (2)(a)(i)—to the general insurer concerned; or
(ii)
if the person is, or is acting as, a person referred to in subparagraph (2)(b)(i)—to the foreign general insurer concerned; or
(iii)
if the person is, or is acting as, a person referred to in paragraph (2)(c)(i)—to the authorised NOHC concerned; or
(iv)
if the person is, or is acting as, a person referred to in paragraph (2)(d)(i)—to the corporate agent concerned, and to any foreign general insurer for which the agent is the corporate agent; and
(b)
to be published in the Gazette.

26Court power to revoke or vary a disqualification etc.

(1)
A disqualified person, or APRA, may apply to the Federal Court of Australia for:
(a)
if the person is a disqualified person only because he or she was disqualified under section 25A—a variation or a revocation of the order made under that section; or
(b)
otherwise—an order that the person is not a disqualified person.
(2)
If the Court revokes an order under paragraph (1)(a) or makes an order under paragraph (1)(b), then, despite section 25, the person is not a disqualified person.
(3)
At least 21 days before commencing the proceedings, written notice of the application must be lodged:
(a)
if the disqualified person makes the application—by the person with APRA; or
(b)
if APRA makes the application—by APRA with the disqualified person.
(4)
An order under paragraph (1)(b) may be expressed to be subject to exceptions and conditions determined by the Court.

26APrivilege against exposure to penalty – disqualification under section 25A or 44

Proceedings
(1)
In the case of any proceeding under, or arising out of, this Act, a person is not entitled to refuse or fail to comply with a requirement:
(a)
to answer a question or give information; or
(b)
to produce books, accounts or other documents; or
(c)
to do any other act;
on the ground that the answer or information, production of the book or other thing, or doing that other act, as the case may be, might tend to make the person liable to a penalty by way of a disqualification under section 25A or 44.
(2)
Subsection (1) applies whether or not the person is a defendant in, or a party to, the proceeding or any other proceeding.
Statutory requirements
(3)
A person is not entitled to refuse or fail to comply with a requirement under this Act:
(a)
to answer a question or give information; or
(b)
to produce books, accounts or other documents; or
(c)
to do any other act;
on the ground that the answer or information, production of the book or other thing, or doing that other act, as the case may be, might tend to make the person liable to a penalty by way of a disqualification under section 25A or 44.
Admissibility
(4)
Subsection 38F(2) does not apply to a proceeding for the imposition of a penalty by way of a disqualification under section 25A or 44.
Other provisions
(5)
Subsections (1) and (3) of this section have effect despite anything in:
(a)
clause 5 of Schedule 1; or
(b)
any other provision of this Act; or
(c)
the Administrative Review Tribunal Act 2024.
Definition
(6)
In this section:
penalty includes forfeiture.

27APRA may remove a director or senior manager of a general insurer, authorised NOHC or corporate agent

(1)
This section applies to a person who is:
(a)
a director or senior manager of a general insurer (not including a foreign general insurer); or
(b)
a senior manager, or agent in Australia for the purpose of section 118, of a foreign general insurer; or
(c)
a director or senior manager of an authorised NOHC; or
(d)
a director or senior manager of a corporate agent.
(2)
APRA may direct (in writing) that the general insurer, authorised NOHC or corporate agent remove the person from the position if APRA is satisfied that the person:
(a)
either:
(i)
for a person who is a disqualified person only because he or she was disqualified under section 25A—is disqualified from being or acting as a director or senior manager of the insurer, NOHC or corporate agent; or
(ii)
otherwise—is a disqualified person; or
(b)
if the person is an individual—does not meet one or more of the criteria for fitness and propriety set out in the prudential standards.
(3)
Before directing a general insurer, authorised NOHC or corporate agent to remove a person, APRA must give written notice to:
(a)
the person; and
(b)
the insurer, NOHC or agent;
giving each of them a reasonable opportunity to make submissions on the matter.
(3A)
If a submission is made to APRA in response to the notice, APRA must have regard to the submission and may discuss any matter contained in the submission with such persons as it considers appropriate for the purpose of assessing the truth of the matter.
(3B)
A notice given under subsection (3) to a person, a general insurer, authorised NOHC or corporate agent must state that any submissions made in response to the notice may be discussed by APRA with other persons as mentioned in subsection (3A).
(4)
A direction takes effect on the day specified in it, which must be at least 7 days after it is made.
(5)
If APRA directs a general insurer, authorised NOHC or corporate agent to remove a person, APRA must give a copy of the direction to the person and insurer, NOHC or agent.
(5A)
The power of a general insurer to comply with a direction under this section may be exercised on behalf of the general insurer as set out in the table:

Power to comply with a direction
Item	Who may exercise the power	How the power may be exercised
1	The chair of the board of directors of the general insurer	by signing a written notice.
2	A majority of the directors of the general insurer (excluding any director who is the subject of the direction)	by jointly signing a written notice.

(5B)
The power of an authorised NOHC to comply with a direction under this section may be exercised on behalf of the NOHC as set out in the table:

Power to comply with a direction
Item	Who may exercise the power	How the power may be exercised
1	The chair of the board of directors of the NOHC	by signing a written notice.
2	A majority of the directors of the NOHC (excluding any director who is the subject of the direction)	by jointly signing a written notice.

(5BA)
The power of a corporate agent to comply with a direction under this section may be exercised on behalf of the agent as set out in the table:

Power to comply with a direction
Item	Who may exercise the power	How the power may be exercised
1	The chair of the board of directors of the agent	by signing a written notice.
2	A majority of the directors of the agent (excluding any director who is the subject of the direction)	by jointly signing a written notice.

(5C)
Subsections (5A), (5B) and (5BA) do not, by implication, limit any other powers of a general insurer, authorised NOHC or corporate agent to remove a person.
(6)
Part VI applies to a direction made by APRA under this section.
(7)
A general insurer, authorised NOHC or corporate agent commits an offence if:
(a)
the insurer, NOHC or agent does, or fails to do, an act; and
(b)
by doing or failing to do the act, the insurer, NOHC or agent fails to comply with a direction under this section.
Penalty: 300 penalty units.
(7A)
If an individual:
(a)
commits an offence against subsection (7) because of Part 2.4 of the Criminal Code; or
(b)
commits an offence under Part 2.4 of the Criminal Code in relation to an offence against subsection (7);
he or she is punishable, on conviction, by a fine not exceeding 60 penalty units.
(8)
An offence against this section is an offence of strict liability.
Note 1: For strict liability, see section 6.1 of the Criminal Code.
Note 2: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

Division 6Other matters28General insurer must hold sufficient assets

A general insurer commits an offence if:
(a)
it does not hold assets in Australia (excluding goodwill and any assets or other amount excluded by the prudential standards for the purposes of this section) of a value that is equal to or greater than the total amount of its liabilities in Australia other than pre‑authorisation liabilities; and
(b)
APRA has not authorised the insurer to hold assets of a lesser value; and
(c)
there is no determination in force under subsection 7(1) determining that this subsection does not apply to the insurer.
Penalty: 200 penalty units.
Note 1: Certain amounts are taken to be assets in Australia, and certain liabilities are taken to be liabilities in Australia, under section 116A.
Note 2: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
Note 3: If a body corporate is convicted of an offence against this section, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty above.

28ACommencement and cessation of insurance business

(1)
A person commits an offence if:
(a)
the person is a general insurer; and
(b)
the person becomes aware that the person has started to carry on insurance business in Australia; and
(c)
the person does not tell APRA of the date on which the person started to carry on insurance business in Australia:
(i)
in writing; and
(ii)
within 7 days after the date on which the person becomes aware that the person had started to carry on insurance business in Australia.
Penalty: 50 penalty units.
(2)
A person commits an offence if:
(a)
the person is a general insurer; and
(b)
the person becomes aware that the person has ceased to carry on insurance business in Australia; and
(c)
the person does not tell APRA of the date on which the person ceased to carry on insurance business in Australia:
(i)
in writing; and
(ii)
within 7 days after the date on which the person becomes aware that the person has ceased to carry on insurance business in Australia.
Penalty: 50 penalty units.

29Change of name of a general insurer or authorised NOHC

(1)
A general insurer who changes its name must publish a notice of that fact:
(a)
unless paragraph (b) applies—in a manner that results in the notice being accessible to the public and reasonably prominent; or

ad. No. 119, 2001
am. No. 82, 2010 (as am. by No. 136, 2012)
Division 6
Division 6..................................	ad. No. 154, 2007
s. 49R........................................	ad. No. 154, 2007
am. No. 82, 2010
Part IVA....................................	ad. No. 107, 1997
rep. No. 119, 2001
Part V
Part V heading............................	rs. No. 149, 2007
s 50............................................	am No 92, 1981; No 1, 1992; No 210, 1992; No 107, 1997; No 54, 1998; No 55, 2001 (as am by No 116, 2003); No 119, 2001; No 8, 2007; No 10, 2018; No 76, 2023
s. 51...........................................	am. No. 31, 1977; No. 129, 1983; No. 48, 1994; No. 107, 1997; No. 54, 1998; Nos. 31 and 119, 2001
rep. No. 25, 2008
s 52............................................	am No 129, 1983; No 1, 1992; No 107, 1997; No 54, 1998; No 119, 2001; No 121, 2001; No 100, 2005; No 149, 2007; No 25, 2008; No 82, 2010; No 11, 2016
s. 53...........................................	rep. No. 1, 1992
s. 54...........................................	am. No. 129, 1983; No. 1, 1992; No. 107, 1997; No. 54, 1998; No. 119, 2001
s. 55...........................................	am. No. 1, 1992; No. 107, 1997; No. 54, 1998; No. 119, 2001 (as am. by No. 100, 2005)
s. 56...........................................	am. No. 129, 1983; No. 1, 1992; No. 107, 1997; No. 54, 1998; No. 137, 2000; No 4, 2016
s. 57...........................................	am. No. 1, 1992; No. 54, 1998
s. 58...........................................	am. No. 1, 1992; No. 107, 1997; No. 54, 1998
s. 59...........................................	am. No. 1, 1992; No. 107, 1997; No. 54, 1998; No. 119, 2001; No. 42, 2003
s. 60...........................................	am. No. 129, 1983; No. 1, 1992; No. 107, 1997; No. 54, 1998; No. 119, 2001; No. 25, 2008; No. 82, 2010
s. 61...........................................	am. No. 129, 1983; No. 107, 1997
s. 62...........................................	am. No. 31, 1977; No. 129, 1983; No. 168, 1986; No. 1, 1992; No. 107, 1997; No. 54, 1998; Nos. 31, 119 and 121, 2001
rep. No. 25, 2008
Part VA
Part VA......................................	ad. No. 149, 2007
ss. 62A–62H...............................	ad. No. 149, 2007
s. 62J.........................................	ad. No. 149, 2007
Part VB
Part VB heading..........................	rs No 10, 2018
Part VB......................................	ad. No. 105, 2008
Division 1
s 62K.........................................	ad No 105, 2008
s 62L.........................................	ad No 105, 2008
am No 10, 2018
s 62M........................................	ad No 105, 2008
am No 82, 2010; No 10, 2018; No 68, 2023
s. 62N........................................	ad. No. 105, 2008
s 62P..........................................	ad No 105, 2008
rs No 10, 2018
s 62PA.......................................	ad No 10, 2018
s 62PB.......................................	ad No 10, 2018
s 62PC.......................................	ad No 10, 2018
s 62PD.......................................	ad No 10, 2018
am No 87, 2024
s 62PE.......................................	ad No 10, 2018
s 62Q.........................................	ad No 105, 2008
rep No 10, 2018
s. 62R........................................	ad. No. 105, 2008
am. No. 82, 2010; No 10, 2018
s. 62S.........................................	ad. No. 105, 2008
am. No. 131, 2009
s. 62T........................................	ad. No. 105, 2008
am. No. 82, 2010
rs No 10, 2018
s. 62U........................................	ad. No. 105, 2008
am No 10, 2018
s. 62V........................................	ad. No. 105, 2008
am No 43, 2016
rs No 10, 2018
s 62W........................................	ad No 105, 2008
am No 10, 2018; No 68, 2023
s. 62X........................................	ad. No. 105, 2008
s. 62Y........................................	ad. No. 105, 2008
s. 62Z........................................	ad. No. 105, 2008
am No 10, 2018
s. 62ZA......................................	ad. No. 105, 2008
s. 62ZB......................................	ad. No. 105, 2008
am No 43, 2016
rs No 10, 2018
s. 62ZC......................................	ad. No. 105, 2008
s. 62ZD......................................	ad. No. 105, 2008
rs. No. 82, 2010
s 62ZE.......................................	ad No 105, 2008
s 62ZF.......................................	ad No 105, 2008
am No 10, 2018
s 62ZG.......................................	ad No 105, 2008
s 62ZH.......................................	ad No 105, 2008
s. 62ZI.......................................	ad. No. 105, 2008
am. No. 82, 2010; No 10, 2018
s 62ZJ........................................	ad No 105, 2008
am No 10, 2018
s 62ZK.......................................	ad No 105, 2008
am No 10, 2018
s 62ZL.......................................	ad No 105, 2008
s 62ZM......................................	ad No 105, 2008
rs No 10, 2018
am No 6, 2020
s. 62ZN......................................	ad. No. 105, 2008
am. No. 103, 2010
s. 62ZO......................................	ad. No. 105, 2008
rep No 10, 2018
Division 1A
Division 1A................................	ad No 10, 2018
Subdivision A
s 62ZOA....................................	ad No 10, 2018
s 62ZOB....................................	ad No 10, 2018
s 62ZOC....................................	ad No 10, 2018
Subdivision B
s 62ZOD....................................	ad No 10, 2018
s 62ZOE.....................................	ad No 10, 2018
s 62ZOF.....................................	ad No 10, 2018
s 62ZOG....................................	ad No 10, 2018
s 62ZOH....................................	ad No 10, 2018
ed C57
s 62ZOI......................................	ad No 10, 2018
s 62ZOJ.....................................	ad No 10, 2018
s 62ZOK....................................	ad No 10, 2018
am No 6, 2020
s 62ZOL.....................................	ad No 10, 2018
am No 6, 2020
s 62ZOM....................................	ad No 10, 2018
s 62ZON....................................	ad No 10, 2018
s 62ZOO....................................	ad No 10, 2018
s 62ZOP.....................................	ad No 10, 2018
s 62ZOQ....................................	ad No 10, 2018
s 62ZOR....................................	ad No 10, 2018
s 62ZOS.....................................	ad No 10, 2018
s 62ZOT.....................................	ad No 10, 2018
s 62ZOU....................................	ad No 10, 2018
s 62ZOV....................................	ad No 10, 2018
am No 87, 2024
s 62ZOW...................................	ad No 10, 2018
s 62ZOX....................................	ad No 10, 2018
s 62ZOY....................................	ad No 10, 2018
am No 68, 2023
s 62ZOZ.....................................	ad No 10, 2018
s 62ZOZA..................................	ad No 10, 2018
am No 76, 2023
s 62ZOZB..................................	ad No 10, 2018
Division 2
s 62ZP.......................................	ad No 105, 2008
am No 11, 2016
s. 62ZQ......................................	ad. No. 105, 2008
am. No. 82, 2010
rs No 10, 2018
s 62ZR.......................................	ad No 105, 2008
am No 10, 2018
s 62ZS.......................................	ad No 105, 2008
am No 10, 2018
s 62ZT.......................................	ad No 105, 2008
am No 10, 2018
Division 3
s. 62ZU......................................	ad. No. 105, 2008
am No 10, 2018
s. 62ZV......................................	ad. No. 105, 2008
am. No. 82, 2010; No. 136, 2012; No 10, 2018
ed C56
Division 4
Division 4..................................	ad No 10, 2018
s 62ZVA....................................	ad No 10, 2018
Part VC
Part VC......................................	ad. No. 105, 2008
Division 1
s. 62ZW.....................................	ad. No. 105, 2008
am. No. 82, 2010; No 10, 2018
ss. 62ZX–62ZZ...........................	ad. No. 105, 2008
s. 62ZZA....................................	ad. No. 105, 2008
am. No. 82, 2010
s. 62ZZB....................................	ad. No. 105, 2008
rep. No. 82, 2010
Division 2
s. 62ZZC....................................	ad. No. 105, 2008
am. No. 82, 2010; No 126, 2015; No 10, 2018
s. 62ZZD....................................	ad. No. 105, 2008
s. 62ZZE....................................	ad. No. 105, 2008
am. No. 82, 2010
Division 3
s 62ZZF.....................................	ad No 105, 2008
am No 82, 2010
s 62ZZFA...................................	ad No 10, 2018
s 62ZZG.....................................	ad No 105, 2008
am No 82, 2010; No 10, 2018
s 62ZZGA..................................	ad No 10, 2018
s 62ZZH.....................................	ad No 105, 2008
am No 82, 2010; No 10, 2018
s 62ZZI......................................	ad No 105, 2008
am No 82, 2010
s 62ZZJ......................................	ad No 105, 2008
am No 82, 2010; No 10, 2018
s. 62ZZK....................................	ad. No. 105, 2008
am No 10, 2018
s. 62ZZKA.................................	ad. No. 42, 2009
am No 10, 2018
s. 62ZZL....................................	ad. No. 105, 2008
s. 62ZZM...................................	ad. No. 105, 2008
am. No. 42, 2009; No. 82, 2010; No 10, 2018
s 62ZZMA.................................	ad No 10, 2018
s 62ZZMB..................................	ad No 10, 2018
s 62ZZMC..................................	ad No 10, 2018
s 62ZZMD.................................	ad No 10, 2018
Division 4
s. 62ZZN....................................	ad. No. 105, 2008
s. 62ZZO....................................	ad. No. 105, 2008
am. No. 82, 2010; No 10, 2018
s. 62ZZP....................................	ad. No. 105, 2008
am. No. 42, 2009; No. 82, 2010; No 10, 2018
s. 62ZZQ....................................	ad. No. 105, 2008
am. No. 82, 2010; No 10, 2018
ss. 62ZZR–62ZZT.......................	ad. No. 105, 2008
s. 62ZZU....................................	ad. No. 105, 2008
am. No. 82, 2010
Division 5
Division 5 heading......................	rs. No. 103, 2010
s. 62ZZV....................................	ad. No. 105, 2008; No. 103, 2010
Part VI
Part VI.......................................	rs No 31, 1977
s 63............................................	rs No 31, 1977
am No 129, 1983; No 107, 1997; No 54, 1998; No 119, 2001; No 37, 2002; No 38, 2005; No 25, 2008; No 39, 2024; No 14, 2025
s 64............................................	rep No 31, 1977
ad No 129, 1983
am No 107, 1997; No 54, 1998; No 25, 2008; No 39, 2024
Part VII
Division 1
Division 1..................................	ad. No. 35, 1998
s. 65...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998; No. 25, 2008
s. 66...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 55, 2001
Division 2
Division 2..................................	ad. No. 35, 1998
s. 67...........................................	rep. No. 31, 1977
ad. No. 35, 1998
s. 68...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998; No. 154, 2007
s. 69...........................................	rep. No. 31, 1977
ad. No. 35, 1998
s. 70...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998; No. 154, 2007; No 4, 2016
ss. 71–73....................................	rep. No. 31, 1977
ad. No. 35, 1998
Division 3
Division 3 heading......................	rs. No. 54, 1998
Division 3..................................	ad. No. 35, 1998
s. 74...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998; No. 25, 2008; No 4, 2016
s. 75...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998; No. 55, 2001; No. 154, 2007
s. 76...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998; No. 25, 2008
Division 4
Division 4..................................	ad. No. 35, 1998
Subdivision A
Subdivision A heading.................	rs. No. 54, 1998
Heading to s. 77..........................	am. No. 54, 1998
s. 77...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998; No 4, 2016
s. 78...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998; No. 46, 2011; No. 25, 2008; No 4, 2016
Subdivision B
s. 79...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998
s. 80...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998; No. 137, 2000
s. 81...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998
s. 82...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998; No. 137, 2000
ss. 83, 84....................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998
s. 85...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998; No. 42, 2003
s. 86...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998
Subdivision C
s. 87...........................................	rep. No. 31, 1977
ad. No. 35, 1998
Division 5
Division 5..................................	ad. No. 35, 1998
s. 88...........................................	rep. No. 31, 1977
ad. No. 35, 1998
am. No. 54, 1998
s. 89...........................................	rep. No. 157, 1976
ad. No. 35, 1998
ss. 90, 91....................................	rep. No. 31, 1977
ad. No. 35, 1998
s 92............................................	rep No 31, 1977
ad No 35, 1998
am No 55, 2001; No 11, 2016
ss. 92A–92C...............................	ad. No. 35, 1998
s. 92D........................................	ad. No. 35, 1998
am. No. 54, 1998
ss. 92E, 92F................................	ad. No. 35, 1998
s. 92G........................................	ad. No. 35, 1998
am. No. 54, 1998
s. 92H........................................	ad. No. 35, 1998
am. No. 54, 1998
s. 92J.........................................	ad. No. 35, 1998
ss. 92K–92M..............................	ad. No. 35, 1998
am. No. 54, 1998
ss. 92N–92P...............................	ad. No. 35, 1998
ss. 92Q, 92R...............................	ad. No. 35, 1998
am. No. 54, 1998; No. 25, 2008
s. 92S.........................................	ad. No. 35, 1998
am. No. 25, 2008
Division 6
Division 6 heading......................	ad No 35, 1998
s 93............................................	am No 31, 1977; No 129, 1983; No 107, 1997; No 35, 1998; No 54, 1998; No 119, 2001; No 25, 2008; No 46, 2011; No 39, 2024
exp (s 93(3), (6), (10))
Division 7
Division 7 heading......................	ad. No. 35, 1998
s. 94...........................................	am. No. 129, 1983; No. 107, 1997
rs. No. 35, 1998
am. No. 119, 2001; No 4, 2016
s. 94A........................................	ad. No. 35, 1998
am. No. 54, 1998
s. 95...........................................	am. No. 107, 1997
rs. No. 35, 1998
s. 96...........................................	am. No. 54, 1998
rs. No. 35, 1998
am. No. 54, 1998
s. 97...........................................	rs. No. 35, 1998
am. No. 54, 1998
s. 98...........................................	am. No. 107, 1997
Part VIII
s. 99...........................................	rs. No. 119, 2001
s. 100.........................................	am. No. 107, 1997
s. 101.........................................	rep. No. 31, 1977
s. 102.........................................	am. No. 92, 1981; No. 119, 2001
s. 103.........................................	am. No. 92, 1981; No. 149, 2007
Part IX
Part IX.......................................	rep. No. 54, 1998
ad. No. 25, 2008
Division 1
Division 1..................................	ad. No. 82, 2010
s 103A.......................................	ad No 82, 2010
am No 10, 2018
s 103B.......................................	ad No 82, 2010
am No 10, 2018
s 103C.......................................	ad No 82, 2010
am No 10, 2018
s 103D.......................................	ad No 82, 2010
am No 10, 2018
s 103E........................................	ad No 82, 2010
am No 10, 2018
s 103F........................................	ad No 82, 2010
s 103G.......................................	ad No 82, 2010
s 103H.......................................	ad No 82, 2010
s. 103J.......................................	ad. No. 82, 2010
s. 103K......................................	ad. No. 82, 2010
am No 43, 2016
rs No 10, 2018
s. 103L.......................................	ad. No. 82, 2010
am No 10, 2018
s. 103M......................................	ad. No. 82, 2010
s. 103N......................................	ad. No. 82, 2010
am. No. 82, 2010
Division 2
Division 2 heading......................	ad. No. 82, 2010
s. 104.........................................	rep. No. 129, 1983
ad. No. 25, 2008
am. No. 82, 2010; No 10, 2018
s. 105.........................................	am. No. 31, 1977; No. 129, 1983; No. 1, 1992; No. 107, 1997
rep. No. 54, 1998
ad. No. 25, 2008
am. No. 105, 2008; No 43, 2016; No 10, 2018
s. 105A......................................	ad. No. 31, 1977
am. No. 129, 1983; No. 107, 1997
rep. No. 54, 1998
s 106..........................................	am No 129, 1983; No 107, 1997
rep No 54, 1998
ad No 25, 2008
am No 10, 2018; No 76, 2023
s. 107.........................................	am. No. 31, 1977; No. 129, 1983; No. 107, 1997
rep. No. 54, 1998
ad. No. 25, 2008
rep No 10, 2018
s. 108.........................................	am. No. 31, 1977; No. 129, 1983
rep. No. 54, 1998
ad. No. 25, 2008
am No 10, 2018
Division 3
Division 3..................................	ad No 10, 2018
s 109..........................................	rs No 31, 1977
am No 129, 1983; No 107, 1997
rep No 54, 1998
ad No 10, 2018
s 109A.......................................	ad No 10, 2018
s 109B.......................................	ad No 10, 2018
s 109C.......................................	ad No 10, 2018
s 109D.......................................	ad No 10, 2018
s 109E........................................	ad No 10, 2018
am No 135, 2020
ed C60
am No 64, 2021
s 109F........................................	ad No 10, 2018
s 109G.......................................	ad No 10, 2018
s 109H.......................................	ad No 10, 2018
s 110..........................................	rep No 31, 1977
s 111..........................................	rep No 31, 1977
s 112..........................................	rep No 31, 1977
s 113..........................................	am No 31, 1977; No 129, 1983
rep No 16, 1989
ad No 107, 1997
am No 54, 1998; No 31, 2001
rep No 123, 2001
s 114..........................................	am No 54, 1998
rep No 119, 2001
Part X
s 114..........................................	ad No 135, 2020
s 115..........................................	rs No 31, 1977
am No 129, 1983; No 107, 1997; No 54, 1998; No 119, 2001; No 121, 2001; No 36, 2003
ss. 115AA, 115AB......................	ad. No. 149, 2007
s. 115A......................................	ad. No. 31, 1977
am. No. 107, 1997; No. 54, 1998; Nos. 119 and 121, 2001; No. 36, 2003; No. 149, 2007
s. 116.........................................	am. No. 107, 1997; No. 54, 1998
rs. No. 119, 2001
am. No. 105, 2008
s. 116A......................................	ad. No. 119, 2001
am. Nos. 25 and 105, 2008; No. 75, 2009; No. 82, 2010
s. 117.........................................	am. No. 107, 1997; No. 54, 1998
rs. No. 119, 2001
am. No. 37, 2002
s. 117A......................................	ad. No. 1, 1992
am. No. 107, 1997; Nos. 31 and 121, 2001
rep. No. 119, 2001
s. 118.........................................	am. No. 31, 1977; No. 107, 1997; No. 54, 1998; No. 119, 2001; No. 37, 2002; No. 149, 2007

s. 119.........................................	am. No. 129, 1983; No. 48, 1994; No. 107, 1997; Nos. 48 and 54, 1998
rep. No. 119, 2001
s. 120.........................................	am. No. 107, 1997; No. 35, 1998; No. 119, 2001; No 4, 2016
s. 121.........................................	am. No. 107, 1997; Nos. 35 and 54, 1998
s. 122.........................................	am. No. 54, 1998; No. 119, 2001
s 123..........................................	am No 129, 1983; No 1, 1992; No 35, 1998; No 54, 1998; No 119, 2001, No 121, 2001
rep No 76, 2023
s. 124.........................................	am. No. 31, 1977; No. 54, 1998; No 61, 2016
ed C54
s. 125.........................................	am. No. 129, 1983
rs. No. 54, 1998
s 126..........................................	rs No 31, 1977
am No 99, 1987; No 6, 1992
rs No 107, 1997
rep No 54, 1998
ad No 119, 2001
s 127..........................................	am No 31, 1977; No 177, 1981 (as am by No 26, 1982); No 129, 1983 (as am by No 72, 1984); No 107, 1997
rep No 54, 1998
ad No 119, 2001
am No 10, 2018
s 127A.......................................	ad No 105, 2008
s 127B.......................................	ad No 10, 2018
s 127C.......................................	ad No 10, 2018
s 127D.......................................	ad No 10, 2018
am No 76, 2023
s 127E........................................	ad No 10, 2018
s 127F........................................	ad No 13, 2022
s 128..........................................	am No 92, 1981; No 129, 1983; No 16, 1989; No 1, 1992; No 107, 1997; No 35, 1998; No 137, 2000; No 31, 2001; No 55, 2001; No 119, 2001; No 121, 2001
s 128A.......................................	ad No 119, 2001
am No 25, 2008
s 129..........................................	am No 129, 1983
s 129AA.....................................	ad No 10, 2018
am No 68, 2023
s 129A.......................................	ad No 129, 1983
am No 119, 2001; No 25, 2008
s 129B.......................................	ad No 129, 1983
rep No 107, 1997
s 129C.......................................	ad No 144, 1995
am No 62, 1997; No 119, 2001
rep No 13, 2018
s 129D.......................................	ad No 144, 1995
am No 54, 1998; No 119, 2001
rs No 75, 2009
s 129E........................................	ad No 105, 2008
s. 130.........................................	am. No. 107, 1997; No. 54, 1998
s. 131.........................................	am. No. 1, 1992; No. 119, 2001
s. 131A......................................	ad. No. 105, 2008
am No 62, 2014; No 126, 2015
s 131B.......................................	ad. No. 105, 2008
s. 132.........................................	am. No. 31, 1977; No. 129, 1983; No. 107, 1997; Nos. 48 and 54, 1998; No. 121, 2001
Schedule....................................	am. No. 31, 1977; No. 129, 1983; No. 54, 1998
rep. No. 35, 1998
Schedule 1
Schedule 1..................................	ad. No. 105, 2008
Part 1
cc. 1–5.......................................	ad. No. 105, 2008
Part 2
cc. 6–9.......................................	ad. No. 105, 2008