(1) In this Part:
beneficiary means a person covered by an indemnity from the State under Division 2.
builder means a contractor or supplier (within the meaning of Part 6), an owner-builder or person who does residential building work otherwise than under a contract.
Guarantee Corporation means the Building Insurers’ Guarantee Corporation constituted under Division 3.
insolvent insurer means an insurer to whom:(a) an order of the Treasurer in force under section 16A of the Insurance Protection Tax Act 2001 relates, or(b) an order of the Minister in force under section 103G relates.Note. See also section 16A (2) of the Insurance Protection Tax Act 2001 in relation to HIH companies.
insolvent insurer’s policy means a contract of insurance, required under Part 6, that has been entered into by an insolvent insurer, whether before or after the insurer became an insolvent insurer.
insurer means an insurer that was formerly approved by the Minister under section 103A as in force at any time before its repeal by the NSW Self Insurance Corporation Amendment (Home Warranty Insurance) Act 2010, but does not include an insolvent insurer.
liquidator includes a provisional liquidator.(2) In this Part, a reference to a liquidator or to a provisional liquidator includes a reference to a liquidator or a provisional liquidator appointed outside New South Wales.(3) So far as the legislative power of Parliament permits, the liquidator of an insolvent insurer has outside New South Wales the functions conferred or imposed on the liquidator by this Part, in addition to having those functions within New South Wales.(4) This Part has effect despite any provisions of the Corporations (New South Wales) Act 1990 or of the applicable provisions (as defined in that Act) of the State.