s 405
In forceReinsurance arrangements of licensed insurers
Chapter 7MAI insurer licences
Part 7.9MAI insurer licences—supervision
405 Reinsurance arrangements of licensed insurers
A licensed insurer must tell the MAI commission—
(a)
details of arrangements made, or proposed to be made, for reinsurance for liabilities under MAI policies issued by the licensed insurer; and
(b)
the terms of any approval of APRA under the Insurance Act 1973 (Cwlth) for the reinsurance.
Note It is a condition of an MAI insurer licence that the licensed insurer must comply with this section (see s 365).
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