Exceptions to Part IV of the Competition and Consumer Act 2010
62ZN 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:
the acquisition of assets in:
a sale or disposal of property of a general insurer under this Division by a judicial manager of the general insurer; or
a transfer of insurance business of a general insurer under a scheme prepared by a judicial manager of the general insurer and confirmed (with or without modifications) by the Federal Court under Division 3A of Part III;
(whether the assets are shares in another body corporate or other assets);
an agreement or deed for carrying out a transfer described in subparagraph (a)(ii);
arrangements necessary to give effect to a scheme described in subparagraph (a)(ii);
the acquisition of shares in a general insurer as a direct result of:
the issue or sale of the shares under this Division by a judicial manager of the general insurer; or
the exercise of a right to acquire shares that was issued or sold under this Division by a judicial manager of the general insurer.
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