(1)

This regulation applies if:

(a)

a friendly society made an application for registration of an amendment of its benefit fund rules under section 74 of a Friendly Societies Code before the transfer date; and

(b)

the application was not determined before the transfer date; and

(c)

the friendly society is a transferring friendly society.

(2)

The application is to be treated, on and after the transfer date, as if it were an application for approval of an amendment of approved benefit fund rules under section 16Q of the Life Insurance Act 1995 .

Note
If, before the transfer date:

(a) a special resolution mentioned in section 72, or a resolution mentioned in section 73, of a Friendly Societies Code has been passed approving amendments of a society's rules; but
(b) the society has not applied to the relevant SSA for registration of the amendments;

the society may apply under section 16L or 16Q of the Life Insurance Act 1995 , as appropriate, for approval of the proposed amendments. However, unless APRA requires it, the resolution would not need to be passed again.