62ZOBStart of control of body corporate’s business by Insurance Act statutory manager

#### 62ZOB Start of control of body corporate’s business by Insurance Act statutory manager (1) After the decision that an Insurance Act statutory manager will take control of a body corporate’s business is made, APRA must give the body corporate written notice that the Insurance Act statutory manager will take, or is taking, control of the business. > Note: Subsections 62ZOQ(4) and 62ZOZA(3) also require APRA to give notice of the taking of control. (2) An Insurance Act statutory manager takes control of a body corporate’s business: (a) at the time specified in a notice under this section as the time when the Insurance Act statutory manager takes control of the business (which must not be earlier than the notice is given); or (b) if a notice under this section does not specify a time as the time when the Insurance Act statutory manager takes control of the business—at the time the notice is given. (3) A notice under subsection (1) is not a legislative instrument.