Commonwealth Consolidated Acts

LIFE INSURANCE ACT 1995 - SECT 179C

             (1)  This section applies if a person, other than APRA, wants to apply to a court under Chapter 5 of the Corporations Act 2001 for the appointment of an external administrator of a life company.

          (1A)  The person must give the following documents to APRA before the person makes the application:

                     (a)  a copy of the application;

                     (b)  a copy of all the documents that will be filed in support of the application.

             (2)  APRA is entitled to be heard on the application.

Offence

             (4)  A person (other than APRA) commits an offence if:

                     (a)  the person makes an application to a court under Chapter 5 of the Corporations Act 2001 for the appointment of an external administrator of a life company; and

                     (b)  the person did not give the following documents to APRA before the person made the application:

                              (i)  a copy of the application;

                             (ii)  a copy of all the documents that will be filed in support of the application.

Penalty:  60 penalty units.

             (5)  An offence against subsection (4) is an offence of strict liability.

Note:          For strict liability, see section 6.1 of the Criminal Code .