Commonwealth Consolidated Acts

LIFE INSURANCE ACT 1995 - SECT 28D

  (1)   APRA must revoke a body corporate's NOHC registration if:

  (a)   the body corporate asks (in writing) APRA to do so; and

  (b)   APRA is satisfied that revoking the registration would not be contrary to either:

  (i)   the public interest; or

  (ii)   the interests of the policy owners of any life company that is a subsidiary of the body corporate.

  (2)   If APRA revokes a body corporate's NOHC registration, APRA must give written notice to the body.

  (3)   Revocation under this section of the registration of a body corporate takes effect when APRA gives the body written notice of the revocation.