Statutory Rules 1996
No. 305 1
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Life Insurance Regulations 2(Amendment)
I, The Governor-General of the Commonwealth of Australia, acting with the advice of the
Federal Executive Council, make the following Regulations under the Life
Insurance Act 1995.
Dated 11 December 1996.
WILLIAM
DEANE
Governor-General
By His
Excellency’s Command,
C.
R. KEMP
Assistant
Treasurer
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1. Amendment
1.1 The Life
Insurance Regulations are amended as set out in these Regulations.
[NOTE: These Regulations commence on gazettal: see Acts
Interpretation Act 1901, s. 48.]
2. New regulation 4.01B
2.1 After regulation 4.01A, insert:
Ascertainment of income and outgoings of a statutory fund
“4.01B. For the purposes of subregulation 47 (1)
of the Act, income and outgoings of a statutory fund are, respectively, the
amounts pertaining to that statutory fund that have the character of income and
outgoings in accordance with the provisions of the Commissioner’s rules made
for the purposes of paragraphs 82 (5) (a) and (b) of the Act, as in
force at the time when this regulation takes effect, that provide for
accountability for profit and loss.”.
3. New regulation 10.05B
3.1 After regulation
10.05A, insert:
Public notice of unclaimed moneys
“10.05B. The Commissioner may publish, in any form,
information contained in a statement given to the Commissioner for the purposes
of section 216 of the Act, by including any or all of the particulars given in
the statement in relation to the unclaimed moneys.”.
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NOTES
1. Notified in the Commonwealth
of Australia Gazette on 18 December 1996.
2. Statutory Rules 1995
No. 141 as amended by 1995 Nos. 317and 431; 1996 No. 89.