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LIFE INSURANCE ACT 1995 - SECT 16P

Amendment of approved benefit fund rules not effective unless approved by APRA

  (1)   An amendment of approved benefit fund rules of a friendly society is effective if, and only if:

  (a)   the amendment has been approved by APRA under subsection   16Q(3) and is in force under section   16T; or

  (b)   the amendment is determined by APRA under subsection   16R(4) and is in force under section   16T.

  (2)   Without limiting subsection   (1), an amendment of approved benefit fund rules that is in force under section   16T takes effect, by force of this section, as an amendment of the constitution of the friendly society.


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