Insurance Acquisitions and Takeovers (Insurance Australia Limited) Instrument 2025
I, Jim Chalmers, Treasurer, being satisfied of the matters in subsection 41(1) of the Insurance Acquisitions and Takeovers Act 1991, make the following decision.
Dated 25 August 2025
Dr Jim Chalmers
Treasurer
Contents
Part 1—Preliminary
1 Name
2 Commencement
3 Authority
4 Definitions
Part 2—Go-ahead decision: trigger proposal relating to CGU Australia Pty Ltd and Insurance Australia Limited
5 Unconditional go-ahead decision
Part 1—Preliminary
1 Name
This instrument is the Insurance Acquisitions and Takeovers (Insurance Australia Limited) Instrument 2025.
2 Commencement
(1) Each provision of the instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information | ||
Column 1 | Column 2 | Column 3 |
Provisions | Commencement | Date/Details |
1. The whole of this instrument. | The day after this instrument is registered. |
|
Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.
(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.
3 Authority
This instrument is made under the Insurance Acquisitions and Takeovers Act 1991.
4 Definitions
Note: Expressions have the same meaning in this instrument as in the Insurance Acquisitions and Takeovers Act 1991 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.
In this instrument:
ABN has the meaning given by the A New Tax System (Australian Business Number) Act 1999.
the Act means the Insurance Acquisitions and Takeovers Act 1991.
Part 2—Go-ahead decision: trigger proposal relating to CGU Australia Pty Ltd and Insurance Australia Limited
5 Unconditional go-ahead decision
Under section 41 of the Act, the Minister has no objection, unconditionally, to the trigger proposal by CGU Australia Pty Ltd (ABN 62 004 478 960), for CGU Australia Pty Ltd to acquire the assets, interests, rights and benefits referable to the insurance business of Insurance Australia Limited (ABN 11 000 016 722) by way of a scheme to be confirmed by the Federal Court of Australia under Division 3A of Part III of the Insurance Act 1973.