230AAWho this Subdivision applies to

230AA Who this Subdivision applies to

(1) This Subdivision applies to a life company that: (a) is a company that: (i) is registered under the Corporations Act 2001; and (ii) has a share capital; and (b) does not have a judicial manager. (2) Subsections (3) and (4) apply if: (a) APRA has given a recapitalisation direction to the life company under subsection 230AB(1) (the primary recapitalisation direction); and (b) the life company is a subsidiary of a NOHC/NOHC subsidiary; and (c) the NOHC/NOHC subsidiary is a company that: (i) is registered under the Corporations Act 2001; and (ii) has a share capital; and (d) the NOHC/NOHC subsidiary does not have a Life Insurance Act statutory manager. (3) This Subdivision applies to the NOHC/NOHC subsidiary in the same way that it does to a life company. (4) However, disregard the following provisions in applying this Subdivision to the NOHC/NOHC subsidiary: (a) subsection 230AB(1); (b) subsection 230AC(1). (5) In this section:

NOHC/NOHC subsidiary means a body corporate that is any of the following:

(a) a registered NOHC;
(b) a subsidiary of a registered NOHC.