Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If a * life insurance company determines, at a time other than a * valuation time, that the total * transfer value of the company's * complying superannuation assets as at that time is less than the sum of:
(a) the company's * complying superannuation liabilities as at that time; and
(b) any reasonable provision made by the company at that time in its accounts for liability for income tax in respect of those assets;
the company can transfer, to the * complying superannuation asset pool, assets of any kind having a total transfer value not exceeding the difference.
(2) A * life insurance company can at any time transfer an asset of any kind to a * complying superannuation asset pool in exchange for an amount of money equal to the * transfer value of the asset at the time of the transfer.
(3) A * life insurance company can transfer to a * complying superannuation asset pool in an income year assets of any kind having a total * transfer value not exceeding the total amount of the * life insurance premiums paid to the company in that income year for the purchase of * complying superannuation life insurance policies.
(4) Except as provided by this section and subsections
320 - 180(3) and 320 - 250(1A), a * life insurance company cannot transfer an
asset to a * complying superannuation asset pool.