Life Insurance Regulations (Amendment) (Cth)

Statutory Rules 1985 No. 441

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Life Insurance Regulations2 (Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulation under the Life Insurance Act 1945.

Dated 18 April 1985.

N. M. STEPHEN

Governor-General

By His Excellency’s Command,

C. J. HURFORD

Minister of State for Immigration

and Ethnic Affairs for

and on behalf of the Treasurer

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After regulation 28b of the Life Insurance Regulations the following regulation is inserted:

Alterations of Fourth Schedule to the Act

“28c. The provisions of the Fourth Schedule to the Act are altered by omitting paragraph (2a) (a) and substituting the following paragraphs:

‘(a) where the liability under the policy, being a deferred annuity policy, is in respect of the period during which an annuity shall be payable—an assumed rate of 8 per centum per annum;

(ab) where the liability under the policy, being an annuity policy under which an annuity has become payable, is in respect of the period during which the annuity shall continue to be payable—an assumed rate of 12 per centum per annum; or’.”.

 

NOTES

1. Notified in the Commonwealth of Australia Gazette on 24 April 1985.

2. Statutory Rules 1946 No. 136 as amended by 1959 No. 98; 1962 Nos. 3 and 12; 1966 No. 36; 1969 No. 51; 1971 No. 100; 1974 Nos. 68 and 224; 1978 No. 31; 1980 No. 54; 1981 No. 262; 1983 No. 240; 1984 No. 248.