Commonwealth Consolidated Acts

LIFE INSURANCE ACT 1995 - SECT 126

    In this Part:

"authorised person" means a person appointed under section   127.

"officer" , in relation to a body corporate, means:

  (a)   a person who is, or has been, an officer of the body, and includes a person who is, or has been:

  (i)   a director, secretary or employee of the body; or

  (ii)   the appointed actuary of the body, if it is a life company; or

  (iii)   an auditor of the body; or

  (iv)   a shareholder of the body; or

  (b)   a person who, in the capacity of an insurance intermediary (other than an insurance broker) within the meaning of the Insurance Contracts Act 1984 , is, or has been, an agent of the body.

"relevant business" , in relation to a body corporate, means the business of the body corporate to which a show cause notice relates.

"relevant person" , in relation to a body corporate, means:

  (a)   a director, secretary or employee of the body; or

  (b)   the appointed actuary of the body, if it is a life company; or

  (c)   an auditor of the body.

"show cause notice" means a notice given under subsection   135(1).