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Insurance Act 1973
22When APRA must revoke a NOHC authorisation
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#### 22 When APRA must revoke a NOHC authorisation
(1) APRA must revoke (in writing) a body corporate’s NOHC authorisation if:
(a) the body corporate asks (in writing) APRA to do so; and
(b) APRA is satisfied that revoking the authorisation would not be contrary to either:
(i) the national interest; or
(ii) the interests of the policyholders of any general insurer who is a subsidiary of the body corporate.
(2) If APRA revokes a body corporate’s NOHC authorisation, APRA must:
(a) give written notice to the body corporate; and
(b) ensure that notice of the revocation is published in the Gazette.
(3) A revocation is not invalid merely because of a failure to comply with subsection (2).