422Insolvent insurer declarations

422 Insolvent insurer declarations (1) The Minister may declare a licensed insurer, or former licensed insurer, to be an insolvent insurer (an insolvent insurer declaration) if— (a) the Minister is satisfied that— (i) a liquidator has been appointed for the licensed insurer or former licensed insurer; or (ii) the licensed insurer, or former licensed insurer, has been dissolved; and (b) the Minister has consulted— (i) APRA; and (ii) ASIC; and (c) the Treasurer approves the making of the declaration. (2) An insolvent insurer declaration is a notifiable instrument.