=N THE FEDERAL COURT OF AUSTRALIA Net at VICTORTA DISTRICT REGISTRY V.G. No. 66 of '$78 CRNERAL DIVISION IN THE MATTER of _the LIFE INSURANCE ACT 1945 AND IN THE MATTER OF THE ROYAL-GLOBE LIFE ASSURANCE CO, LIMITED and THF COLONIAL MUTUAL ASSURANCE SOCIETY LIMITED Smithers J. 22 December 1978 REASONS FOR JUDGMENT In this case I am satisfied that s.73 of the Life Insurance Act 1945 extends to companies which carry on life assurance business in Australia and aiso carry on such business out of Australia and that it prohibits the transfer of even that part of the business or any such business which is carried on outside of Australia at least to another company which carries on business in Australia except in pursuance of a scheme prepared in accordance with Division 9 of the Act and submitted to and confirmed by the court as prescribed in the Divisicn. I think this follows from various sections of the Act including eections 15, 15(1), 17, 26, 37(1)(b), 38, 40 sub-section 4, 4O0A, 41 and 118 and from the general purpose of the Act as indicated and discussed by Mr. Justice Fullagar in the Insurance Commissioner v. Associated Dominions Assurance Society Pty. Ltd.(1953) 89 C.L.R. 78, especially at p.86 and following. I am satisfied that the scheme submitted to the court has been advertised in accordance with section 75(1)(b) and also that it has been extensively advertised in Fiji and I am satisfied that although so advertised no policy holder or any other person has sought to inspect the scheme and certainly has made no objection to it. I am satisfied that after causing a report on the scheme to be made by an independent actuary and sent to the companies concerned, the Insurance Commissioner of Australia is satisfied that the scheme, having been fully considered by him, is regarded as appropriate for confirmation by this court and I am satisfied the scheme has been approved by the Commissioner for Life Assurance of Fiji. Subgect to it being confirmed by this court, the scheme appears to me to ensure the proper satisfaction of the entitlements of policy holders in Fiji in accordance with the provisions of those policies and to contain nothing which detracts from the right of policy holders whose policies are registered in Australia, I confirm the scheme and make the order in the terms of that now submitted to me and approved by me.