INSURANCE ACQUISITIONS AND TAKEOVERS ACT 1991 No. 6 of 1992 - SECT 19 Severability

INSURANCE ACQUISITIONS AND TAKEOVERS ACT 1991 No. 6 of 1992 - SECT 19

19. (1) If this Act would be wholly or partly invalid apart from this
subsection, this Act has effect as if each reference in this Act to an
Australian-registered insurance company were, by express provision, confined
to an Australian-registered insurance company that:

   (a)  carries on as its sole or principal business the business of
        insurance; or

   (b)  carries on as its principal business the business of banking; or

   (c)  is a financial or trading corporation formed within the limits of the
        Commonwealth (within the meaning of paragraph 51 (xx) of the
        Constitution); or

   (d)  is a foreign corporation (within the meaning of paragraph 51 (xx) of
        the Constitution); or

   (e)  is incorporated in a Territory.

(2) Without prejudice to its effect apart from this subsection, this Act also
has the effect that it would have if each reference in paragraphs 21 (1) (a),
22 (a) and 23 (a) to a company were, by express provision, confined to an
Australian-registered insurance company.