Revocation of authorisation to carry on insurance business

Insurance Act 1973

TO: TGI Australia Limited ABN 12 000 041 458 (the insurer) Level 9, 200 George St, Sydney NSW 2000

SINCE

A. the insurer is authorised under subsection 12(2) of the Insurance Act 1973 (the Act), to carry on insurance business in Australia (the Authorisation); and

B. the insurer has asked APRA to revoke the Authorisation; and

C. I am satisfied that:

(i) the insurer has no liabilities in respect of insurance business carried on by it in

Australia; and

(ii) revoking the Authorisation would not be contrary to the national interest,

I, Keith Chapman , a delegate of APRA, under subsection 16(1) of the Act, REVOKE the

Authorisation.

This Revocation takes effect on the date it is signed.

Dated: 20 September 2012

[Signed]

Keith Chapman

Executive General Manager

Diversified Institutions Division

Interpretation Document ID: 205136

In this Notice

APRA means the Australian Prudential Regulation Authority.

insurance business has the meaning given in section 3 of the Act.

Note 1

Under subsection 16(2) of the Act, if APRA revokes a general insurer’s authorisation, APRA must

give written notice to the insurer and ensure that notice of the revocation is published in the Gazette. By virtue

of subsection 16(3)  of the Act, a revocation is not invalid merely  because  of a failure  to comply  with subsection 16(2)  of the Act

Note 2  Under  section 16A  of the Act, the notice  of revocation of the authorisation may state that the authorisation continues in effect  in relation to a specified matter  or specified period,  as though the revocation had not happened, for the purposes of a specified provision of the Act or the regulations, or a specified provision of another law of the Commonwealth that is administered by APRA,  or a specified provision of the prudential standards, and the statement has effect  accordingly.