Financial Sector Legislation Amendment (Enhancing Supervision and Enforcement) Act 2009 (75 of 2009)

Schedule 1   Non-operating holding companies of life insurers

Part 1   Main amendments

Life Insurance Act 1995

184   Schedule

Insert:

Non-Operating Holding Company , in relation to a body corporate, means a body corporate:

(a) of which the first body corporate is a subsidiary; and

(b) that does not carry on a business (other than a business consisting of the ownership or control of other bodies corporate); and

(c) that is incorporated in Australia.