Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
The application of GE Mortgage Insurance Pty Ltd [2004] FCA 154
INSURANCE – approval of scheme of transfer – compliance with legislative requirements – whether scheme capable of being approved with condition subsequent – whether discretion should be exercised to refuse scheme approval – no material unfairness to policy holders – scheme approved subject to modification Insurance Act 1973 (Cth) Part III Division 3A Corporations Law Corporations Act 2001 (Cth) s 17B
Re Advance Bank Australia Ltd (1996) 22 ACSR 476 cited Re Vector Capital (1997) 23 ACSR 182 cited Re Castlereagh Securities Ltd [1973] 1 NSWLR 624 referred to Re Bellara Medical Products Ltd (1996) 14 ACLC 332 referred to Re NRMA Insurance Ltd (2000) 33 ACSR 595 applied Re Buka Minerals NL (1983) 8 ACLR 507 cited
Ford's Principles of Corporations Law [24.030] THE APPLICATION OF GE MORTGAGE INSURANCE PTY LTD & ORS N 1992 OF 2003 HELY J 1 MARCH 2004 SYDNEY
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY N 1992 OF 2003
BETWEEN: GE MORTGAGE INSURANCE PTY LTD
ACN 071 466 334
FIRST APPLICANT
GE CAPITAL MORTGAGE INSURANCE CORPORATION (AUSTRALIA) PTY LTD
ACN 081 488 440
SECOND APPLICANT
GE MORTGAGE INSURANCE COMPANY PTY LIMITED ACN 106 974 305
THIRD APPLICANT
JUDGE: HELY J
DATE OF ORDER: 1 MARCH 2004
WHERE MADE: SYDNEY
THE COURT ORDERS THAT: 1. The applicants bring in revised Short Minutes of Order to give effect to these reasons. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY N 1992 OF 2003
BETWEEN: GE MORTGAGE INSURANCE PTY LTD ACN 071 466 334
FIRST APPLICANT
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