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.