"contractor" means a person required by section 92 to enter into a contract of
insurance.
"insolvent" means--
(a) in relation to an individual, that the individual is
insolvent under administration (within the meaning of the Corporations Act
2001 of the Commonwealth), or
(b) in relation to a corporation, that the
corporation is a Chapter 5 body corporate.
(2) A reference in this Part to
the disappearance of a contractor, supplier or owner-builder is a reference to
disappearance from Australia and includes a reference to the fact that, after
due search and inquiry, the contractor, supplier or owner-builder cannot be
found in Australia.