INCOME TAX ASSESSMENT ACT 1997 - SECT 165.212D Restructure of MDOs etc.
INCOME TAX ASSESSMENT ACT 1997 - SECT 165.212D
Restructure of MDOs etc.(1) An * MDO does not fail to satisfy the * business continuity test merely because, before 1 July 2003:
(a) the MDO restructured the way it * provides medical indemnity cover; or
(b) the MDO ceased to provide medical indemnity cover;
in order to comply with the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003 .
(2) A * general insurance company which is an * associate of an * MDO does not fail to satisfy the * business continuity test merely because, before 1 July 2003:
(a) the MDO restructured the way it * provides medical indemnity cover; or
(b) the MDO ceased to provide medical indemnity cover;
in order to comply with the
Medical Indemnity (Prudential Supervision and Product Standards) Act 2003 .