Life Insurance Regulations (Amendment) (Cth)

STATUTORY RULES

1966 No. 36

 

REGULATIONS UNDER THE LIFE INSURANCE ACT 1945-1965.*

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Life Insurance Act 1945-1965.

Dated this third day of February, 1966.

CASEY

Governor-General.

By His Excellency’s Command,

Treasurer.

 

Amendment of the Life Insurance Regulations. 

Modification of provisions of Act in case of certain policies.

1.—(1.) Regulation 8 of the Life Insurance Regulations is amended by omitting from sub-paragraph (ii) of paragraph (a) and sub-paragraph (iii) of paragraph (d) the word “pound” (wherever occurring) and inserting in its stead the word “dollar”.

(2.) This regulation shall come into operation on the fourteenth day of February, 1966.

Currency in which returns to be expressed.

2.—(1.) Where a company is required, in pursuance of sub-regulation (1.) of regulation 19 of the Life Insurance Regulations, to furnish a return in respect of its financial year, being a year that ends on or after the thirtieth day of September, 1965, and that return has not been furnished before the date of commencement of this regulation, the company shall express the return in the currency provided for by the Currency Act 1965.

(2.) Where a company is required, in pursuance of sub-regulation (2.) of regulation 19 of the Life Insurance Regulations, to furnish a return in Form 6 in the First Schedule to those Regulations in respect of a period ending on, or on a date before, the thirty-first day of December, 1965, the company shall, whether the Form is furnished before, on or after the fourteenth day of February, 1966, express the Form in the currency provided for by the Coinage Act 1909-1947.

(3.) Where a company is required, in pursuance of sub-regulation (3.) of regulation 19 of the Life Insurance Regulations, to furnish a return in respect of the month of January, 1966 (and that return has not been furnished before the date of commencement of this regulation) or in respect of any subsequent month, the company shall express that return in the currency provided for by the Currency Act 1965.

Penalty: Fifty pounds.

 

* Notified in the Commonwealth Gazette on 10 February, 1966.

  Statutory Rules 1946, No. 136, as amended by Statutory Rules 1959, No. 98; and 1962, Nos. 3 and 12.

 

By Authority: A. J. Arthur, Commonwealth Government Printer, Canberra

8751/65.—Price 6d. (5c) 9/1.2.1966