Summary
Amends: the Life Insurance Act 1995 to establish a prudential regulation regime for non-operating holding companies of life insurance companies to be administered by the Australian Prudential Regulation Authority (APRA); 19 other Acts to make consequential amendments; and the Banking Act 1959, Insurance Act 1973, Life Insurance Act 1995, Superannuation Industry (Supervision) Act 1993 and First Home Saver Accounts Act 2008 to provide APRA with power to seek court injunctions against breaches of conditions or directions issued under those Acts.