s 103N
In forceExceptions to Part IV of the Competition and Consumer Act 2010
Part IXDirections
Division 1Recapitalisation directions
103N Exceptions to Part IV of the Competition and Consumer Act 2010
For the purposes of subsection 51(1) of the Competition and Consumer Act 2010, the following things are specified and specifically authorised:
(a)
the acquisition of shares in a general insurer as a direct result of:
(i)
the issue of the shares in compliance with a recapitalisation direction given to the insurer; or
(ii)
the exercise of a right to acquire shares that was issued in compliance with such a recapitalisation direction;
(b)
the acquisition of other capital instruments as a direct result of the issue of the other capital instruments in compliance with a recapitalisation direction given to a general insurer.
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