62ZHDisclaimer of onerous property

#### 62ZH Disclaimer of onerous property Division 7A (Disclaimer of onerous property) of Part 5.6 of the Corporations Act 2001 applies in relation to the disclaimer of property of a general insurer by a judicial manager of the general insurer as if: (a) the general insurer were a company for the purposes of that Division; and (b) the judicial manager were the liquidator of the company; and (c) a reference in that Division to the Court were a reference to the Federal Court; and (d) subsection 568(10) of the Corporations Act 2001 were omitted; and (e) the policyholders of the general insurer were the company’s creditors for the purposes of subsections 568B(3) and 568E(5) of the Corporations Act 2001. > Note: One effect of this is that the judicial manager of a general insurer has essentially the same powers and duties relating to the disclaimer of property as a liquidator of a company.