Life Assurance Companies Act 1899 (SA)

ANNO SEXAGESTMO SECUN1)O ET SEXAGESIMO

TERTIO

A. D. 1899.

No. 725.

An Act to authorise the Issue of Special Policies in lieu of Lost Life Assurance Policies, and for other purposes.

[Assented to, December zrst, 1899.1

it Enacted by the Governor, with the advice and consent of

the Parliament of South Australia, as follows:

BE 1, This Act shall be incorporated and read as one with a The Incorporation.

Life Assurance Companies Act, 1882," and is divided in parts or divisions, as follows :-

DIVISION ~.-.Relating to lost or destroyed policies:

Jhv ISION 11.-Transfer	of policies from one register to another.
DIVISION I. DIVIRION I.

LOST OR DESTROYED POLICIES.

2, In the event of a life assurance policy on the South Australian Company may iiseue speclal policy in place

Register of any Company being lost or destroyed, and upon a statu-, ,,, or destroyed

tory declaration being made by any person or persons having a policy.

knowledge of the circumstances stating the facts relating to such

loss or d&tnxtion, and the particulars of all assignmen&, rnort-

gages, or other transactions affecting thc said policy and the title

thereto, to the best of the declarant's belief, the Company, if satisfied

as to the truth of such declaration, and the bond Jides of the trans-

action, may issue to the person entitled thereto aWspecial policy.

726 3. If

B 62' & '63" VICTORIE, No. 725.

me Life Assurance Co~panies Act Amendment Act.-1 899.

DIVXBTON I. 3. If the Company fail to issue a special policy within one month

J U ~ @; ~ O P special after being requested in writing so to do by the person entitled

~ $ o ~ ~ e ~ $ ~ ~ $ ~	thereto, a Judge of the Supremc Court, after due notice to thc
Company, upon such evidence of the loss or destruction of the A policy as h 6 may deem sufficient, may dircct the Company, upon such terms and within such time as he may determine, to issue to the person entitled thereto a special policy.

special policy to be 4. Every special policy shall contain, so far as the same c m be

pO"y* known or ascertained, thc same or similar terms and conditions as were contained in the policy so lost or destroyed, and every memo- randum or indorsement thereon, or the substance or the particulars thereof so far as the same may be known to the Company, and shall

state why such special policy is issued.

Itme of lspeeial

policies to be entered 6. The issue of such special policy, with the reasons for such

In books of company. issue, shall be entered in the books of thc company.

Special policy 6,

Such special policy shall be available for all purposes and uses for which the policy SO lost or destroyed wodd have been available, and shall be equally valid tJ~erewith to all intents, and all dealings

available as lost or

destroyed policy.

and transactions with respect to such lost or dcstroved policy, of

which the company has had notice prior to the issue df such special policy, shall operate and enure for the benefit of the person entitled to such lost or destroyed policy, and be read and construed in the same manner as if the special policy was specifically mentioned nnd refencd to in such dealings and transactions instead of the lost or destroyed policy.

Notice of intention to

issue special policy to

7. The Company, before issning such special policy, shall give

newspaper circulnting in thc city of Adelaide, and one nc~~~spaper

(if any) published in the neighborhood in wlliclr the applicant

be advertised.

at least one month's notice of its iilt~ntion SO to do in at least one

resides, or in one newspaper (if any) publish~d in the district in

which the policy is considered hy the Company to have been lost or

destroyed.

Expensea of

advertisement to be 8. The expenses of such advertisement, and all other costs con-

p i a by spplicant. nected with the issue of such special policy, unless otherwise directed pursuant to section 3, shall be paid by the applicant therefor, and such costs shall in no case exceed the sum of Two Pounds.

Not entitled topol ic~	9. Such applicant shall not be c~ititlcd	to such policy until the
till costs paid.

said expenses and costs shall have been paid.

Original policy, if 10,

In the event of the original policy being found and produced after the issue of such special policy, but before payment of any moneys thereunder, the same shall belong and be given up to the Company issuing such special policy, for the purpose of being cancelled, and the Company s11all not be liable upon such original

found, to be cancelled,

policy,

62' & 63' VICTORIE, No. 725.

The Life Assurance Companies Act Amendment Act.-1 899.

policy, unless it shall appear that notice was received by the Company prior to the issue of such special policy of any assignment, or other dealing with the original policy, affecting the right or title of the person claiming such special policy, or the right of the Company to issue such special policy.

Subetituted special

11. I n the event of the loss or destruction of a special policy a substituted special policy may, from time to time as occasion may	policies may be
~ssued.
require, be issued instead thereof, and all the provisions of this Act with regard to the issue of a special policy shall apply to the issue of each substituted special policy.

DIVISION 11.

TRANSFER OF POLICIES FROM ONE REGISTER TO

ANOTHER,

12. Any policy on the South Australian register of any Com- transferred to s Com- Policies may be

Dany shall, while it remains on the South Australian register, be

pany's register out of

governed in all respects by the laws of South Australia, but may, if

South Australia.

such (hnpany think fit, be transferred at the request of the policy

holder to the register of such Company in any other country, and

any such policy so transferred shall, until it is re-transferred to the

South Australian register of such Company, be treated in South

transfer.

Effect of such

Australia in all respects as a policy issued in the country to which the register pertains, and in particular shall be treated in South

Australin as governed by the laws of such country with regard to

assignments and the extent, if any, to which policies are protected

froln creditors.

13, Any policy on the register of a Company elsewhere than in	transferredto a Com-
Policies may be

South Australia may, if the Company think fit, be transferred at the	pany's South Aus-
request of the policy holder to the South Australian register of such	tralian register.

Company. Any such policy so transferred shall, so long as it is on Effect of such

the South Australian register of the Company, be governed by the	trmsfcr.
law of South Austra.lia.

14, The transfer of a policy from the South Australian register	scribe mode of
Companies tc~ pre-

of any Company t o the register of such Company in any other	tranefer.
country, or from the register of any Company in any other country to the register of the Company in South Australia, shall be made in such manner as such Company from time to time directs.

15, All policies for the time being on the South Australian	Austra!ia.n register
Policies on South

registcr of a i y Company shall, for the purposes of the Life Assu- to be south hslra-

Companies Act, 1882," be South Australian liabilities of such liabilities.

Company.

I11 the name and on behalf of Her Majesty, I hereby assent to

this Bill.

TENNY SON, Governor.

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Arlelaide: By authority, C. E. BRIRTOW, Government Printer, North Temcc,