INSURANCE CONTRACTS ACT 1984 - SECT 61 Insurers in liquidation
INSURANCE CONTRACTS ACT 1984 - SECT 61
Insurers in liquidation(1) Where an insurer under a contract of general insurance is a company that is in liquidation, the insurer may at any time cancel the contract.
(2) Subsection (1) does not affect the operation of a law
(including a law of a State or Territory) that relates to the disclaimer of
unprofitable contracts to which a company that is in liquidation is a party.