Commonwealth Numbered Acts

INSURANCE LAWS AMENDMENT ACT 1991 No. 1 of 1992 - SECT 39

39. Section 19 of the Principal Act is amended:

   (a)  by inserting in paragraph (2) (aa) "is incorporated in Australia and"
after "company";

   (b)  by omitting from paragraph (2) (aa) "$2,000,000" and substituting
        "$10,000,000";

   (c)  by inserting after paragraph (2) (aa) the following paragraphs:
  "(ab)   where the company is incorporated in Australia but does not have a
share capital - that the value of the eligible assets of the company is not
less than $10,000,000;
  "(ac)   where the company is a foreign company - that the value of the
eligible assets in Australia of the company is not less than $10,000,000;".