Financial System Legislation Amendment (Financial Claims Scheme and Other Measures) Act 2008 (105 of 2008)

Schedule 3   Other measures: general insurance

Part 1   Main amendments

Insurance Act 1973

1   At the end of subsection 2A(2)

Add:

; and (e) providing for judicial management of general insurers whose continuance may be threatened by unsatisfactory management or an unsatisfactory financial position, so as to protect the interests of policyholders and financial system stability in Australia.