Interpretation
(cf s 184 MACA) (1) In this Division— insolvent insurer means an insurer to whom— (a) an order of the Treasurer in force under section 16A of the Insurance Protection Tax Act 2001 relates, or (b) an order of the Minister in force under section 9.34 relates. insurer means a licensed insurer or a former licensed insurer, but does not include an insolvent insurer. liquidator includes a provisional liquidator. third-party policy issued by an insolvent insurer means— (a) a third-party policy issued by an insolvent insurer, whether before or after the insurer became an insolvent insurer, or (b) a third-party policy, issued by a person other than an insolvent insurer, in respect of which an insolvent insurer has (whether before or after becoming an insolvent insurer) entered into a contract or an arrangement whereby the insolvent insurer is (or would but for its dissolution be) liable to indemnify the person against liability of the person under the policy. (2) In this Division, a reference to a liquidator or to a provisional liquidator includes a reference to a liquidator or a provisional liquidator appointed outside New South Wales. (3) So far as the legislative power of Parliament permits, the liquidator of an insolvent insurer has outside New South Wales the functions conferred or imposed on the liquidator by this Division, in addition to having those functions within New South Wales. (4) In this Division, a reference to a third-party policy, a licensed insurer and a former licensed insurer includes a reference to a third-party policy, a licensed insurer and a former licensed insurer within the meaning of the Motor Accidents Act 1988 (as in force immediately before the commencement of the Motor Accidents Compensation Act 1999), respectively or within the meaning of the Motor Accidents Compensation Act 1999 (as in force immediately before the commencement of this Act), respectively. (5) This Division has effect despite any provisions of the Corporations (New South Wales) Act 1990 or of the applicable provisions (as defined in that Act) of the State.
Sourced from the New South Wales Legislation website at 9 June 2026. For the latest information on New South Wales Government legislation please go to https://www.legislation.nsw.gov.au. Verify the current text against the official source before relying on it.
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