62ZVALimited application of Divisions 1, 1A and 2 to foreign general insurers

#### 62ZVA Limited application of Divisions 1, 1A and 2 to foreign general insurers (1) Divisions 1, 1A and 2 do not apply in relation to: (a) business of a foreign general insurer (other than Australian business assets and liabilities); or (b) the management of a foreign general insurer, to the extent that the management relates to such business of the foreign general insurer. (2) Subsection 62T(3) does not apply to the issue of policies by a foreign general insurer in the course of insurance business carried on outside Australia by the foreign general insurer. (3) In this section: > asset has the same meaning as in the Financial Sector (Transfer and Restructure) Act 1999. > Australian business assets and liabilities, of a foreign general insurer, means the following: (a) the assets and liabilities of the foreign general insurer in Australia; (b) any other assets and liabilities of the foreign general insurer that: (i) are related to its operations in Australia; and (ii) if regulations are made for the purposes of this subparagraph—are of a kind specified in those regulations. > liability has the same meaning as in the Financial Sector (Transfer and Restructure) Act 1999.