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Insurance Act 1973

Submitted by Richard_Li on
Distinguished Terms in this instrument
Term(s) Definition Defined in Legislation See Section(s)
principal auditor

, of a general insurer, means an auditor appointed by the insurer under paragraph 39(1)(a).

Insurance Act 1973 Insurance Act 1973 - 3 Persons involved in contravening civil penalty provision
Insurance Act 1973 - 39 Requirement for general insurers to have an auditor and actuary
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.

Insurance Act 1973 Insurance Act 1973 - 3 Persons involved in contravening civil penalty provision
protected policy

means a policy other than:

Insurance Act 1973 Insurance Act 1973 - 3 Persons involved in contravening civil penalty provision
Insurance Act 1973 - 62ZY Determination that policies are not protected policies
prudential matters

means matters relating to:

Insurance Act 1973 Insurance Act 1973 - 3 Persons involved in contravening civil penalty provision
prudential standard

means a standard determined by APRA under section 32.

Insurance Act 1973 Insurance Act 1973 - 3 Persons involved in contravening civil penalty provision
Insurance Act 1973 - 32 APRA may determine prudential standards
qualified corporation

means a body corporate that is:

Insurance Act 1973 Insurance Act 1973 - 66 Definitions
recapitalisation direction

means a direction given by APRA under subsection 103B(1) or (1B) .

Insurance Act 1973 Insurance Act 1973 - 3 Persons involved in contravening civil penalty provision
Insurance Act 1973 - 103B Recapitalisation direction by APRA
related body corporate

, in relation to a body corporate, means:

Insurance Act 1973 Insurance Act 1973 - 3 Persons involved in contravening civil penalty provision
Insurance Act 1973 - 50 Interpretation
related subsidiary

of a general insurer means a subsidiary of a holding company of the general insurer.

Insurance Act 1973 Insurance Act 1973 - 36A Definitions
relevant group of bodies corporate

has the meaning given by section 4A.

Insurance Act 1973 Insurance Act 1973 - 3 Persons involved in contravening civil penalty provision
Insurance Act 1973 - 4A Meaning of relevant group of bodies corporate
resolution

means the process by which APRA or other relevant persons manage or respond to an entity:

Insurance Act 1973 Insurance Act 1973 - 3 Persons involved in contravening civil penalty provision
RSA

has the meaning given by section 8.

Retirement Savings Accounts Act 1997 Retirement Savings Accounts Act 1997 - 8 Definition of RSA
Retirement Savings Accounts Act 1997 - 16 Definitions
security trust fund

has the meaning given by section 67.

Insurance Act 1973 Insurance Act 1973 - 66 Definitions
Insurance Act 1973 - 67 Security trust funds
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.

Insurance Act 1973 Insurance Act 1973 - 3 Persons involved in contravening civil penalty provision
share

means a share in the capital of a body corporate, and includes stock.

Insurance Act 1973 Insurance Act 1973 - 3 Persons involved in contravening civil penalty provision
subsidiary

has the meaning given by section 4.

Insurance Act 1973 Insurance Act 1973 - 3 Persons involved in contravening civil penalty provision
Insurance Act 1973 - 4 Recovery of a pecuniary penalty
transferred liabilities determination

means a determination under subsection 62ZZMA(1).

Insurance Act 1973 Insurance Act 1973 - 3 Persons involved in contravening civil penalty provision
Insurance Act 1973 - 62ZZMA APRA may make transferred liabilities determination where transfer of business

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