62L
In forceOrder for judicial management after investigation
Part VBJudicial management, statutory management, other external administration and winding up
Division 1Judicial management of general insurers
62L Order for judicial management after investigation
On an application under section 62K, the Federal Court may make an order that a general insurer be placed under judicial management if the Court is satisfied:
(a)
that the insurance business of the general insurer has been investigated under Part V; and
(b)
that, having regard to the results of the investigation, it is in the interests of policyholders of the general insurer that the order be made.
Note:
This section and other provisions relating to judicial management do not apply to the aspects described in subsection 62ZVA(1) of the business and management of a foreign general insurer.
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