Commonwealth Consolidated Acts

INSURANCE ACQUISITIONS AND TAKEOVERS ACT 1991 - SECT 81

  (1)   This section has effect subject to Part   6 (which deals with anti - avoidance).

  (3)   Part   3 does not apply in relation to:

  (a)   an acquisition of assets that occurred before the commencement of this Act; or

  (b)   an acquisition of interests, rights or benefits of an Australian - registered insurance company under a contract of insurance where the company is the insurer, being an acquisition that occurred before the commencement of this Act; or

  (c)   an arrangement relating to the leasing or letting on hire of, or the granting of other rights to use, assets of an Australian - registered insurance company that was entered into before the commencement of this Act.

  (4)   Part   4 does not apply in relation to:

  (a)   an agreement in relation to an Australian - registered insurance company that was entered into before the commencement of this Act; or

  (b)   an alteration of a constituent document of an Australian - registered insurance company that occurred before the commencement of this Act.