1Insurance Acquisitions and Takeovers (Notices) Regulations

Statutory Rules 1992 No. 681

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Insurance Acquisitions and Takeovers (Notices) Regulations

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council and under section 4 of the Acts Interpretation Act 1901, make the following Regulations under the Insurance Acquisitions and Takeovers Act 1991.

Dated 11 March 1992.

BILL HAYDEN

Governor-General

By His Excellency’s Command,

R. McMULLAN

Parliamentary Secretary to the Treasurer

for and on behalf of the

Treasurer

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Citation

1. These Regulations may be cited as the Insurance Acquisitions and Takeovers (Notices) Regulations.

Commencement

2. These Regulations commence on the date of commencement of the Insurance Acquisitions and Takeovers Act 1991.

Interpretation

3. In these Regulations, “the Act” means the Insurance Acquisitions and Takeovers Act 1991.

Notices—prescribed forms

4. (1) For the purposes of paragraph 24 (b) of the Act, the prescribed form of notice is:

(a) in the case of a notice by a person of the person’s intention to enter into the agreement mentioned in that paragraph—Form 1 in the Schedule; and

(b) in the case of a notice by a company of the company’s intention to issue the shares mentioned in that paragraph—Form 2 in the Schedule.

(2) For the purposes of paragraph 38 (b) of the Act, the prescribed form of notice is Form 3 in the Schedule.

(3) For the purposes of paragraph 52 (b) of the Act, the prescribed form of notice is Form 4 in the Schedule.

(4) For the purposes of paragraph 52 (c) of the Act, the prescribed form of notice is Form 5 in the Schedule.

Supporting documents

5. (1) Unless the Minister otherwise directs, a person giving a notice mentioned in regulation 4 that relates to an agreement or arrangement must attach to the notice all documents and other papers in the person’s possession or control relating to the agreement or arrangement.

(2) If, under an agreement or arrangement mentioned in subregulation (1), the person proposes to acquire an asset, interest, right or benefit of a company, the person must attach to the notice that relates to the agreement a copy of the balance sheet and a copy of the profit and loss account of the company for each period for which a profit and loss account of the company has been laid before the company in general meeting during the preceding 2 years.