In the matter of Reward Insurance Ltd [2004] FCA 151

FEDERAL COURT OF AUSTRALIA

In the matter of Reward Insurance Ltd [2004] FCA 151 INSURANCE – general insurance – application for confirmation of scheme for transfer of insurance business – previous representations by transferor to home and contents insurance policyholders that after five claim free years no premium would be charged for a sixth year – transferee not wishing to engage in insurance business of this nature – whether any condition should be imposed on confirmation Insurance Act 1973 (Cth) s 17F

IN THE MATTER OF REWARD INSURANCE LTD AND THE INSURANCE ACT 1973(CTH) V160 OF 2004 HEEREY J 24 FEBRUARY 2004 MELBOURNE

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY V160 OF 2004

BETWEEN: IN THE MATTER OF REWARD INSURANCE LTD AND THE INSURANCE ACT 1973(CTH)

REWARD INSURANCE LTD (ACN 007 118 854)

APPLICANT

JUDGE: HEEREY J

DATE OF ORDER: 24 FEBRUARY 2004

WHERE MADE: MELBOURNE

THE COURT ORDERS THAT:

1. Pursuant to s 17F(1) of the Insurance Act 1973 (Cth) ("the Act"), the scheme under Part III Div 3A of the Act for the transfer of the insurance business of Reward Insurance Limited ("Reward") to Australian International Insurance Limited ("AII") which is the subject of the application herein is hereby confirmed without modification.

2. The costs of the Australian Prudential Regulation Authority ("APRA") and Ian Burton of and incidental to thse proceedings be paid by Reward. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY V160 OF 2004

BETWEEN: IN THE MATTER OF REWARD INSURANCE LTD AND THE INSURANCE ACT 1973(CTH)

REWARD INSURANCE LTD (ACN 007 118 854)

APPLICANT

JUDGE: HEEREY J

DATE: 24 FEBRUARY 2004