Commonwealth Consolidated Acts

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LIFE INSURANCE ACT 1995 - SECT 46

Restriction on restructure or termination of statutory funds

  (1)   A life company must not:

  (a)   change the statutory fund or funds to which a policy is referable; or

  (b)   terminate a statutory fund;

except in accordance with:

  (c)   subsection   35(4) and section   55; or

  (d)   Division   3.

  (2)   Subsection   (1) does not prevent a liquidator doing anything authorised or required by or under this Act or any other law of the Commonwealth or of a State or Territory.


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