105TRe-insurance arrangements of licensed insurers

105T Re-insurance arrangements of licensed insurers

105T Re-insurance arrangements of licensed insurers

(1) It is a condition of a licence as a licensed insurer granted under this Act that the insurer must notify the Authority of—

(a) particulars of arrangements made or proposed to be made for re-insurance in respect of liabilities under contracts of insurance entered into under Part 6 by the licensed insurer, and

(b) the terms of any approval of the Australian Prudential Regulation Authority under the Insurance Act 1973 of the Commonwealth in respect of any such re-insurance.

(2) This section does not apply to the Self Insurance Corporation.