Exceptions to Part IV of the Competition and Consumer Act 2010
62ZOZB 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 the whole or part of the business of a body corporate under this Division by an Insurance Act statutory manager in control of the body corporate’s business; or
a transfer of insurance business of a general insurer under a scheme prepared by an Insurance Act statutory manager in control of the general insurer’s business 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);
the acquisition of shares in a body corporate as a direct result of:
the issue or sale of the shares under this Division by an Insurance Act statutory manager in control of the body corporate’s business; or
the exercise of a right to acquire shares that was issued or sold under this Division by an Insurance Act statutory manager in control of the body corporate’s business.
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