Life Insurance Regulations (Cth)

STATUTORY RULES.

1946. No. 101.

REGULATIONS UNDER THE LIFE INSURANCE ACT 1945.*

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.

Dated this twelfth day of June, 1946.

HENRY

Governor-General.

By His Royal Highness’s Command,

J. B. CHIFLEY

Treasurer.

.

LIFE INSURANCE REGULATIONS.

Part I.—Preliminary.

Citation.

1. These Regulations may be cited as the Life Insurance Regulations.

Parts.

2. These Regulations are divided into Parts, as follows:—

Part I.—Preliminary

Part II.—Deposits

Part III.—Paid-up Policies, Surrender Values and Non-Forfeiture.

Part IV.—Statistics

Part V.—Miscellaneous

Interpretation.

3.—(1.) In these Regulations, unless the contrary intention appears—

“the Act” means the Life Insurance Act 1945.

(2.) Any reference in these Regulations to a form shall be read as a reference to a form in the Schedule to these Regulations.

Part II.—Deposits.

Bank guarantees.

4. A bank guarantee or undertaking for the purposes of the definition of “approved securities” in sub-section (1.) of section four of the Act shall be in accordance with Form 1 or Form 2, as the case may be.

Fixed deposits.

5.Where a company desires to lodge as an approved security a fixed deposit in a bank, it shall lodge with the Treasurer a receipt for the fixed deposit in the name of “the Treasurer of the Commonwealth”, or

 

* Notified in the Commonwealth Gazette on 13th June, 1946.

2864.—Price 1s.

 

in the name of any other person and bearing an endorsement, signed by that person, transferring the fixed deposit to “the Treasurer of the Commonwealth”.

Deposits in capital cities.

6.—(1.) Money or approved securities required to be deposited in pursuance of the Act may be deposited at the Commonwealth Sub-Treasury in any State capital city.

(2.) Every company which so deposits money or approved securities shall be entitled to obtain from the Accountant, Commonwealth Sub-Treasury, in the State capital city in which the deposit is made, pending the issue of a certificate in pursuance of section thirty-one of the Act, a receipt specifying the nature and amount or value of the money or securities deposited.

Method of valuing land.

7.The manner in which the improved value of lands shall be determined for the purposes of paragraph (f) of the definition of “approved securities” in sub-section (1.) of section four of the Act shall be by a valuation by a valuer appointed by the Secretary to the Department of the Treasury.

Part III.—Paid-up Policies, Surrender Values and Non-Forfeiture.

Modifications of provisions of Act in case of certain policies.

8. In pursuance of sub-section (2.) of section ninety-five of the Act, and on the recommendation of the Commissioner, it is hereby declared that the provisions of Division 4 of Part IV. of the Act shall apply in respect of each of the classes of policies specified in this regulation, subject to the modifications declared in the paragraph of this regulation in which that class is specified:—

(a) Family Income Policies—

(i) If a policy provides income or other additional life insurance benefits so that the amount payable (exclusive of bonuses) in the event of death within a specified term dating from the commencement of the policy exceeds the amount payable (exclusive of bonuses) in the event of death after the expiry of the specified term (which latter amount is hereinafter referred to as the basic sum insured), the paid-up policy to which the policy owner is entitled shall be payable on the same contingencies as the basic sum insured only, and shall not carry such additional benefits, but the amount of the paid-up policy shall be adjusted in accordance with subparagraphs (ii) and (iii) of this paragraph.

(ii) The paid-up policy in respect of the basic sum insured only shall be increased or decreased by a sum bearing the same proportion to 90 per centum of the value of the additional benefits as the sum of One pound bears to the present value (at the attained age of the person whose life is insured) of the reversion in the sum of One pound according to the contingency upon which the basic sum insured under the original policy was payable.

 

(iii) For the purposes of the last preceding subparagraph, the value of the additional benefits shall be ascertained in accordance with rules 3, 4 and 5 of the Rules in Part I. of the Sixth Schedule to the Act, as though the additional benefits were a policy for the purpose of those rules.

(b) Policies which include certain Additional Benefits:—If a policy includes provision for a benefit payable in an event other than death or survival, or a benefit payable in the event of death by accident or specified sickness only (either or both of which benefits are hereinafter referred to as additional benefits), the paid-up policy to which the policy owner shall be entitled shall be calculated in accordance with the rules set out in Part I. of the Sixth Schedule to the Act. For the purpose of that calculation the additional benefits shall be ignored, and the paid-up policy shall not provide any part of the additional benefits.

(c) Option Policies:—If a policy contains provision for the contract there under to be varied at the option of the owner of the policy on a specified date or on the happening of a specified event and the policy owner becomes entitled to a paid-up policy before that option has been exercised, the paid-up policy to which the policy owner shall be entitled shall be that to which he would be entitled if the policy did not include provision for that optional variation.

(d)Altered Ordinary Policies:—In cases where, since the issue of any ordinary policy, the contract thereunder has been varied at the request of title policy owner in such a manner that either the date upon which the sum insured becomes payable, or the term during which premium payments are to be made, or both, have been altered, then the following rules shall apply to the calculation of a paid-up policy:—

(i) In these rules, the “date of variation” means the date on which the first premium under the varied contract fell due.

(ii) The paid-up policy in respect of the original contract under the policy shall be calculated according to the Rules set out in Part I. of the Sixth Schedule to the Act, as at the day before the date of variation.

(iii) An adjusted paid-up policy shall be calculated as at the date of variation by taking the sum which bears the same proportion to the paid-up policy under the original contract as the value of the reversion in the sum of One pound according to the contingency upon which the sum insured under the original contract was payable bears to the reversion in the sum of One pound according to the contingency upon which the sum insured under the policy is payable after the date of variation.

 

(iv) From the total sum insured under the policy after the date of variation there shall be deducted the amount of the adjusted paid-up policy calculated according to rule (iii). The sum so ascertained shall be known as “the premium-bearing sum insured”.

(v) There shall be calculated, as at the date at which it is required to ascertain the paid-up policy in respect of the varied policy, the paid-up policy that would be applicable to a policy effected on the date of variation under the conditions relating to the contract as varied and having a sum insured equal to the premium-bearing sum insured, but for the purposes of determining—

(1) whether a sufficient number of premiums have been paid to entitle the policy owner to a paid-up policy; and

(2) the appropriate percentage to apply in any calculation made by Rule 1 of Part I. of the Sixth Schedule to the Act,

but only for such purposes, the period for which premiums have been paid shall be assumed to date from the date of the original policy.

(vi) The total paid-up policy in respect of a varied policy shall be the sum of the adjusted paid-up policy calculated according to rule (iii) and the paid-up policy in respect of the premium-bearing sum insured, calculated according to rule (v).

(vii) Rule 5 of the Rules set out in Part I. of the Sixth Schedule to the Act shall apply to the calculations in respect of varied policies.

(e) Policies providing for Endowment Insurance Payable in Instalments with Level Premiums until last Instalments is Paid:—If an endowment insurance policy provides for payment of the sum insured by instalments at intervals and for any unpaid balance at death, premiums being payable at a level rate until the final balance of sum insured has been paid, the paid-up policy value of such a policy shall be calculated according to Rule 2 instead of Rule 1 of the Rules set out in Part I. of the Sixth Schedule to the Act.

(f) Paid-up Policies:—Where a policy has been rendered paid-up (whether by the grant of a paid-up policy as required by the Act or otherwise) and a calculation of the surrender value of the policy is subsequently required to be made, the calculation shall be made according to the Rules set out in Part II. of the Sixth Schedule of the Act, and the amount of the paid-up policy of which the present value is to be found in terms of Rule 1 of those Rules shall be the actual amount of the paid-up policy.

 

Mortality table.

9. For the purposes of paragraph (b) of Rule 5 of Part I. of the Sixth Schedule of the Act, and of paragraph (c) of Rule 2 of Part II. of that Schedule, one of the following mortality tables shall be used in respect of ordinary policies, in lieu of the AM33 Table of Mortality:—

(a) The British Offices Life Table (1893), aggregate table, known as the OM Table; or

(b) The ultimate table referred to in paragraph (b) of rule (1.) in the Fourth Schedule to the Act and known as the A1924-29 Table.

Election of Mortality Table for ordinary policies.

10. Every company carrying on, or proposing to carry on, ordinary life insurance business in Australia shall—

(a)elect to use, in respect of its ordinary policies, one of the tables of mortality prescribed by regulation 9 of these Regulations;

(b)when making application for registration under the Act, notify the Commissioner, in writing, of the table of mortality which it elects to use; and

(c) use such table, in respect of its ordinary policies, for all purposes for which the use of a table of mortality is required by the Sixth Schedule to the Act.

Interest on overdue premiums on ordinary policies.

11. The prescribed terms for the purposes of sub-section (2.) of section one hundred of the Act shall be terms under which the amount of compound interest chargeable in respect of an overdue premium would be an amount calculated at the rate of six per centum per annum on the overdue premium or an amount of sixpence, whichever is the greater.

Part IV.—Statistics.

Statistics to be collected.

12. The Commissioner shall collect, at the times prescribed by these statistics to be Regulations for the furnishing of returns by companies, the statistics collected indicated in the forms of returns in the Schedule or otherwise indicated in these Regulations.

Additional annual return of policies.

13.—(1.) Every company shall, in respect of each financial year of the company, prepare, in accordance with Form 3—

(a) returns in respect of its ordinary life insurance business in Australia; and

(b)returns in respect of its industrial insurance business in Australia,

including in each return the appropriate portion of any sinking fund business and continuous disability insurance business irrespective of whether separate statutory funds have been set up for those businesses.

(2.) The returns specified in paragraph (a), and the returns specified in paragraph (b),of the last preceding sub-regulation shall comprise—

(a)a separate return in respect of the register or registers maintained by the company in respect of each State or Territory; and

(b) a return in respect of all the registers maintained by the company in Australia.

 

(3.) Items in Form 3 shall be shown after deduction of amounts in respect of reinsurances of the risks of the company.

(4.) Items in Parts I. and II. of returns in Form 3 shall be shown exclusive of bonus additions.

(5.) For the purpose of the items headed “Bonus Additions” and “Annual Premiums” in Part III. of any return in Form 3, a company may, if any such item is not ascertainable from the records maintained by the company, ascertain the item by method of apportionment based on sums insured under policies of the type to which the item relates.

(6.) The following amounts shall not be included in the Items designated “Sum Insured” in Form 3:—

(a) Benefits, other than the basic sum insured, attaching to Family Income Policies;

(b) Benefits payable on death by accident or specified sickness only; and

(c) Continuous disability insurance benefits.

(7.) A note shall be added to Part I. and Part III. of returns in Form 3 stating what types of policy have been included on the lines entitled “Other Insurance”.

(8.) Items in Part I. of returns in Form 3 shall not include policies in respect of proposals which have been accepted by the company but on which the first premium has not been paid.

(9.) The following rules shall apply to the preparation of Part II. of returns in Form 3:—

(a) Items on the lines entitled “Transfer” shall be the net loss or gain to the appropriate register resulting from transfers between various registers during the year;

(b)Where a policy has acquired a surrender value, and lapses after having had one or more overdue premiums advanced out of that surrender value, the particulars of the policy shall be shown on the line entitled “Surrender” and not on the line entitled “Forfeiture”;

(c) A note shall be added stating the main types of transactions which have been included on the lines entitled “Other Causes”; and

(d)Where a policy has been re-instated, the necessary entries shall be treated as deductions from the figures relating to the cause under which the policy was discontinued.

Additional annual financial returns.

14.—( 1.) Every company shall, in respect of each financial year of the company, prepare, in accordance with Form 4—

(a)a return in respect of its ordinary life insurance business in Australia; and

(b)a return in respect of its industrial insurance business in Australia,

including in each return the appropriate portion of any sinking fund business and continuous disability insurance business irrespective of whether separate statutory funds have been set up for those businesses.

(2.) Items in returns in Form 4 shall be shown after deduction of amounts in respect of reinsurances of the risks of the company.

 

Additional annual return of assets.

15.— (1.) Every company shall, in respect of each financial year of the company, prepare, as at the expiration of that year, a return in accordance with Form 5 in respect of its business in Australia.

(2.) The particulars required to be inserted in Part I. of returns in Form 5 in respect of any State or Territory shall be particulars of the following:—

(a) In the case of mortgages—those mortgages which are in respect of property in that State or Territory;

(b) In the case of loans on policies—those loans which are made on policies on registers of the company maintained in respect of that State or Territory; and

(c) In the case of other loans—those loans which are made to residents in that State or Territory at the time when the loan is made.

Special annual return as at 30th June.

16.—(1.) Every company, including a company whose financial year ends on the thirtieth day of June, shall, as at the thirtieth day of June in each year, prepare a return in accordance with Form 6.

(2.) Items shown in a return under this regulation shall be the balances according to the company’s ledger as at the thirtieth day of June without adjustment for any accrued or outstanding interest or other items which have not been brought into account as at that date.

Monthly returns.

17.—(1.) Every company shall in respect of each year furnish twelve returns in accordance with Form 7, each return to be designated by the name of the calendar month with which the period covered by the return most closely coincides.

(2.) Items in Part IV. of returns in Form 7 shall show the actual cash receipts and disbursements during the period covered by the return and the company, when making the return, shall indicate whether payments shown are the gross amounts or whether they are net after deduction of any debts owing to the company.

(3.) The provisions of sub-regulations (3.), (4.) and (6.) of regulation 13 of these Regulations shall, mutatis mutandis, apply to the preparation of Parts I. and II. of returns in Form 7.

First returns.

18.—(1.) The first return of a company in Form 3, 4 or 5 shall be made in respect of the financial year of the company first commencing after the thirty-first day of May, 1946.

(2.) The first return of a company in Form 6 shall be prepared as at the thirtieth day of June, 1947.

(3.) The first return of a company in Form 7shall be made for the month of January, 1947, or for a period including portion of that month.

Time for making returns.

19.— (1.) A return in Form 3, 4 or 5 shall be furnished to the Commissioner by the company within a period of six months after the end of the year to which the return relates.

(2.) A return in Form 6 shall be furnished to the Commissioner by the company within a period of two months after the date as at which the return is prepared.

(3.) A return in Form 7 shall be furnished to the Commissioner by the company within a period of six weeks after the last day of the calendar month with which the period covered by the return most closely coincides.

 

Number of copies, and signature.

20.—(1.) Returns in Form 3 shall be furnished in triplicate and returns in Forms 4, 5, 6 and 7 shall be furnished in duplicate.

(2.) Returns in Forms 3, 4, 5, 6 and 7shall be signed by the principal officer of the company or by an officer of the company whose authorization has been notified to the Commissioner under section one hundred and forty-seven of the Act.

Persons to whom statistics may be supplied.

21For the purposes of section one hundred and forty-five of the Act, the officers to whom the Commissioner may supply statistics collected by him in pursuance of this Part shall be the Commonwealth Statistician and the official Statistician of each State.

Part V.—Miscellaneous.

Change in particulars.

22. For the purpose of section twenty-three of the Act, the prescribed time shall be six months after the end of the financial year of the company in which the change mentioned in that section takes place.

First accounts, &c., under sections 44 and 51.

23. At the expiration of the first financial year of a company ending after the thirty-first day of May, 1946, the company may, in lieu of furnishing the accounts, balance-sheet and returns specified in sections forty-four and fifty-one of the Act, furnish to the Commissioner ten copies of its revenue account and profit and loss account (if any) in respect of that year and of its balance-sheet as at the end of the year.

Oath or declaration of secrecy.

24. The oath or declaration to be made by a person in pursuance of sub-section (2.) of section fifty-seven of the Act shall be in accordance with Form 8 or Form 9, as the case may be.

Notices regarding transfers or amalgamations.

25. The particulars which, in pursuance of paragraph (b) of sub-section (1.) of section seventy-five of the Act, are required to be contained in a notice of intention to make an application to the Court for confirmation of a scheme for transfer or amalgamation shall be as follows:—

(a) The name of the Court to which application is to be made;

(b) The name of each company which is a party to the proposed transfer or amalgamation;

(c) The addresses of the registries of each company at which copies of the scheme are available for inspection by any policy owner or shareholder, and the period during which the copies of the scheme are so available; and

(d)A statement as to whether copies of the scheme or summaries will be furnished to every policy owner of any class affected by the scheme, or whether an application has been, or will be, made to the Court for a direction that copies of the scheme or summaries be not so furnished.

Appeals.

26. An appeal to the Court, or to the Supreme Court of a State or Territory, against—

(a) a direction by the Commissioner in pursuance of section forty of the Act;

(b)a refusal or revocation by the Commissioner in pursuance of section forty-seven of the Act;

(c) a direction or rejection by the Commissioner in pursuance of section fifty-two of the Act; or

(d)a direction by the Commissioner in pursuance of section fifty-eight of the Act.

shall be made within a period of three months after the date of the direction, refusal, revocation or rejection.

 

Alterations to First Schedule.

27 The provisions contained in Note 3 to Form D in the First Schedule to the Act are altered—

(a) by omitting the words “and Liabilities” and inserting in their stead the words “, Liabilities and Reserves”; and

(b) by omitting the words “and Reserves”.

Alteration to Third Schedule

28. The provisions of Fart II. of the Third Schedule to the Act are altered by omitting paragraph (a) of Item (4.) and inserting in its stead the following paragraph:—

“(a) the total amount of those annuities, grouped according to the number of years from the valuation date to the date the annuity is to be entered upon, and either—

(i) the average age (obtained by weighting according to amount of the annuity) attained at the valuation date by the prospective annuitants; or

(ii) the valuation constants and an explanation of the method by which they are calculated; and”.

Forms.

29. The Commissioner may accept in lieu of a return in accordance with Form 3, 4, 5, 6 or 7 any document which is substantially in accordance with that prescribed form.

Penalty.

30. A person shall not—

(a) contravene or fail to comply with any provision of these Regulations; or

(b)furnish any return under these Regulations which is false or misleading in any particular.

Penalty, where no penalty is provided by the Act—Fifty pounds.

 

THE SCHEDULE.

 

FORM 1 Regulation 4.

Commonwealth of Australia.

Life Insurance Act 1945.

BANK GUARANTEE.

The* (hereinafter referred to as “the Bank”) hereby guarantees that in the event of the failure or refusal of    to pay on demand any amount which the Treasurer of the Commonwealth of Australia (hereinafter referred to as “the Treasurer”) may at any time and from time to time require it to pay in discharge of its liability to deposit money or approved securities under the Life Insurance Act 1945 (as to the occurrence of which event the Bank will accept a certificate signed by the Treasurer as conclusive) the Bank will, forthwith on demand by the Treasurer, pay to him that amount, provided that the total liability of the Bank under this guarantee shall not exceed £

This guarantee shall be a continuing security and will not be revoked except with the consent of the Treasurer, or after twelve months’ notice has been given to the Treasurer in writing, but such revocation shall not release or prejudice the liability (to the limit aforesaid) of the Bank here under existing at the date of such revocation.

Dated at  this day of

One thousand nine hundred and

The common seal of

was hereunto affixed by  (L.S.)

in the presence of—

* Here insert the name of the Bank.

 Here insert the name of the company.

Form 2. Regulation 4.

Commonwealth of Australia.

Life Insurance Act 1945.

UNDERTAKING BY BANK.

The* (hereinafter referred to as “the Bank”) hereby undertakes to pay to the Treasurer of the Commonwealth of Australia (hereinafter referred to as “the Treasurer”) on demand any amount which the Treasurer at any time and from time to time certifies to be an amount required to be deposited by    in discharge of its liability under the Life Insurance Act 1945, but not exceeding in all the sum of £

This undertaking shall be a continuing security and will not be revoked except with the consent of the Treasurer, or after twelve months’ notice has been given to the Treasurer in writing, but such revocation shall not release or prejudice the liability (to the limit aforesaid) of the Bank here under existing at the date of such revocation.

Dated at  this day of

One thousand nine hundred and

The common seal of*

was hereunto affixed by  (l.s.)

in the presence of—

* Here insert the name of the Bank.

 Here insert the name of the company.

 

Form 3. Regulation 13.

Commonwealth of Australia.

Life Insurance Act 1945.

AUSTRALIAN LIFE INSURANCE STATISTICS.

annual return of policies for year ended

Name of Company

State or Territory

 

Type of Business Ordinary./Industrial.

Part I.

New Insurances Issued during the year endedand placed

on Register maintained in respect of

Type of Policy.	Number of Policies.	Sum Insured.	Single Premiums.	Annual Premiums.
£	£	£
Whole of Life Insurance..
Endowment Insurance.....
Other Insurance..............
Endowment....................
Total...................
p.a.
Annuity..........................

 

Part II.

Insurances Discontinued during year endedand removed

from Register maintained in respect of

Type of Policy and Cause of Discontinuance.	Number of Policies.	Sum Insured.	Annual Premiums.
Insurance, Endowment, &c.—	£	£
Death..................................................
Maturity ............................................. Surrender............................................
Forfeiture............................................
Transfer..............................................
Other Causes.......................................
Total................................................
Annuity—	p.a.
Death................................................
Maturity............................................ Surrender...........................................
Forfeiture..........................................
Transfer.............................................
Other Causes.....................................
Total.............................................

Part III.

Insurances Existing on Register maintained in respect of

at, 19 .

Type of Policy.	Number of Policies.	Sum Insured.	Bonus Additions.	Annual Premiums.
£	£	£
Whole of Life Insurance..
Endowment Insurance.....
Other Insurance..............
Endowment....................
Total......................
p.a.
Annuity..........................

 

Form 4. Regulation 14.

Commonwealth of Australia.

Life Insurance Act 1945.

AUSTRALIAN LIFE INSURANCE STATISTICS.

ANNUAL RETURN OF PREMIUMS, CLAIMS, SURRENDERS, ANNUITIES AND CASH BONUSES FOR YEAR ENDED

Name of Company

Type of Business Ordinary./Industrial.

Part I.

Insurance Premiums and Consideration for Annuities received and outstanding for the year ended

State or Territory.	Insurance Premiums.			Consideration for Annuities.
	Single Premiums		Other Premiums.	Single Premiums.	Other Premiums.
£	£		£	£
New South Wales...........
Victoria..........................
Queensland....................
South Australia...............
Western Australia...........
Tasmania.......................
Australian Capital Territory......................................
Northern Territory..........
Papua and New Guinea...
Total.....................

Part II.

Claims, Surrenders, Annuities and Cash Bonuses paid and outstanding for the year ended

Claims.
State or Territory.	By Death or Disability.	By Maturity.	Surrenders.*	Annuities.	Cash Bonuses.
£	£	£	£	£
New South Wales...........
Victoria..........................
Queensland....................
South Australia...............
Western Australia...........
Tasmania.......................
Australian Capital Territory......................................
Northern Territory..........
Papua and New Guinea...
Total.............

* Including surrenders of bonus.

 

Form 5. Regulation 15.

Commonwealth of Australia.

Life Insurance Act 1945.

AUSTRALIAN LIFE INSURANCE STATISTICS.

ANNUAL RETURN OF LOANS AND REAL ESTATE AS AT

Name of Company

Part I.

Loans made by Company and outstanding at

State or Territory.	On Mortgage of Real Estate.	On Debentures or Shares.	On Ordinary Policies of the Company.		On Industrial Policies of the Company.	On Life Interests and Reversions.	On Personal Security.	Other.
			Advances of Premiums.	Other.
£	£	£	£	£	£	£	£
New South Wales......................
Victoria...........
Queensland...... South Australia
Western...........
Australia.......
Tasmania.........
Australian Capital Territory........
Northern Territory.................. Papua and New Guinea.......
Total........

Part II.

Value of Real Estate owned by the Company at

State or Territory.	Office Premises.	Other Freehold and Leasehold Property.
£	£
New South Wales........................................
Victoria......................................................
Queensland.................................................
South Australia...........................................
Western Australia........................................
Tasmania....................................................
Australian Capital Territory.........................
Northern Territory.......................................
Papua and New Guinea................................
Total................................................

 

Form 6. Regulation 16.

Commonwealth of Australia.

Life Insurance Act 1945.

AUSTRALIAN LIFE INSURANCE STATISTICS.

RETURN OF LOANS OUTSTANDING AND GOVERNMENT SECURITIES AT 30TH JUNE, 19 .

Name of Company

Part I.

Loans in Australia outstanding at 30th June, 19

Loans.	£
On Mortgage of Real Estate..........................................................................................
On Debentures or Shares..............................................................................................
On Ordinary Policies of the Company—
(a) Advances of Premiums....................................................................................
(b) Other .............................................................................................................
On Industrial Policies of the Company...........................................................................
On Life Interests and Reversions...................................................................................
On Personal Security....................................................................................................
Other Loans.................................................................................................................
Total ...................................................................................................................

Part II.

Government and Local and Semi-Governmental Securities held by Company in Australia, at 30th June, 19

Type of Security.	Value.	Type of Security.	Value.
£	£
Australia—	New Zealand Government..............................
Commonwealth and State Governments—	United Kingdom Government......................... Other British Governments.............................
Treasury Bills.............	Foreign Governments.....................................
Other.........................
Local and Semi-Governmental
Total................................	Total...........................................

 

Form 7. Regulation 17.

Commonwealth of Australia.

Life Insurance Act 1945.

AUSTRALIAN LIFE INSURANCE STATISTICS.

RETURN FOR THE MONTH OF

Name of Company

Part I.

New Insurances Issued (excluding Annuities).

State.	Ordinary Department.		Industrial Department.
Number of Policies.	Sum Insured.	Number of Policies.	Sum Insured.
£	£
New South Wales...........
Victoria..........................
Queensland....................
South Australia...............
Western Australia...........
Tasmania.......................
Australian Capital Territory
Northern Territory..........
Papua and New Guinea ..
Total.....................

Part II.

Insurances Discontinued (excluding Annuities).

State.	Ordinary Department.			Industrial Department.
	Number of Policies.		Sum Insured.	Number of Policies.	Sum Insured.
	£	£
New South Wales...........
Victoria..........................
Queensland....................
South Australia...............
Western Australia...........
Tasmania.......................
Australian Capital Territory
Northern Territory..........
Papua and New Guinea...
Total...................

 

Part III.

New LoansGranted during Month.

State or Territory.	On Mortgage of Real Estate.	On Company’s Policies.*	Other.*	Total.
					£	£	£	£
New South Wales...............
Victoria.............................
Queensland........................
South Australia..................
Western Australia...............
Tasmania...........................
Australian Capital Territory..
Northern Territory..............
Papua and New Guinea ......
Total........................

* Excluding advances of premiums.

Part IV.

Premiums received, and Claims, Surrenders, &c., Paid, during Month.

Particulars.	Ordinary Department.	Industrial Department.	Total.
Receipts—	£	£	£
Insurance Premiums.............
Consideration for Annuities..
Total .............................
Payments—
Claims..................................
Surrenders ...........................
Annuities..............................
Bonuses Paid in Cash............
Total..............................

Part V.

Rate of Interest charged on New Loans.

Type of Loan.	Rate at end of Month.	Date from which charged.	Previous Rate.
On Company’s Policies...............	%	%
On First Mortgages on Real Estate
……………………	/ /
…………………	/ /

 

Form 8. Regulation 24.

Commonwealth of Australia.

Life Insurance Act 1945.

OFFICER’S OATH OF SECRECY.

I, of  in the State of , being a person performing a duty under Division 7 of Part III. of the Life Insurance Act 1945, do swear that I will not, either directly or indirectly, except in the performance of duty under the said Act, and either while I am, or after I cease to be, a person performing such duties, make a record of, or divulge or communicate to any person, any information acquired by me under the said Division.

So help Me God.

Signature.

Sworn and subscribed at in the State of

this  day of  , 19 , before me—

Justice of the Peace for the

State of

Signature.

 

Form 9. Regulation 24.

Commonwealth of Australia.

Life Insurance Act 1945.

OFFICER’S DECLARATION OF SECRECY.

I, of in the State of  being a person performing a duty under Division 7 of Part III. of the Life Insurance Act 1945, do solemnly and sincerely declare that I will not, either directly or indirectly, except in the performance of duty under the said Act, and either while I am, or after I cease to be, a person performing such duties, make a record of, or divulge or communicate to any person, any information acquired by me under the said Division.

Declared at in the State of

this of , 19 , before me—

Signature.

Justice of the Peace for the State of

or   Signature.

Commissioner for Declarations

ss

By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra.

2864. —2