Insurance Act 1973

APRA may publish in the Gazette notice of a recapitalisation direction.

The notice must include:

the name of the general insurer that is given the direction; and

a summary of the direction.

If APRA publishes notice of a recapitalisation direction and later revokes the direction, APRA must publish in the Gazette notice of that revocation as soon as practicable after the revocation.

Failure to publish notice of the revocation does not affect the validity of the revocation.

If the Minister or the Reserve Bank requests APRA to provide information about:

any recapitalisation directions in respect of a particular general insurer; or

any recapitalisation directions made during a specified period in respect of any general insurers;

APRA may provide any information that APRA considers appropriate to the Minister or the Reserve Bank about any recapitalisation directions, or revocations of recapitalisation directions, in respect of any general insurer, at any time.

If APRA:

provides the Minister or the Reserve Bank with information about a recapitalisation direction; and

later revokes the direction;

Failure to notify the person does not affect the validity of the revocation.