INSURANCE ACT 1973 - SECT 92S Return of security deposit

INSURANCE ACT 1973 - SECT 92S

  (1)   If:

  (a)   section   93 has ceased to have effect; and

  (b)   APRA is satisfied that there are no outstanding liabilities of Lloyd's underwriters that are covered by any designated security trust fund;

APRA must return to:

  (c)   Lloyd's; or

  (d)   if a company nominated by Lloyd's deposited securities with APRA under section   92Q--that company;

such of the securities lodged by Lloyd's or that company, as the case may be, under section   92Q as have not been applied under section   92R.

  (2)   In this section:

"Lloyd's underwriter" includes:

  (a)   a former Lloyd's underwriter; and

  (b)   the legal personal representative of a Lloyd's underwriter or a former Lloyd's underwriter.