SGIC General Insurance Limited [2004] FCA 1639

FEDERAL COURT OF AUSTRALIA

SGIC General Insurance Limited [2004] FCA 1639

IN THE MATTER OF SGIC GENERAL INSURANCE LIMITED N1415 of 2004 JACOBSON J 14 DECEMBER 2004 SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY N 1415of 2004

BETWEEN: SGIC GENERAL INSURANCE LIMITED

ABN 68 069 065 158

FIRST applicant

SGIO INSURANCE LIMITED

abn 30 058 277 866

SECOND applicant

INSURANCE AUSTRALIA LIMITED

abn 11 000 016 722

THIRD applicant

JUDGE: JACOBSON J

DATE OF ORDER: 3 DECEMBER 2004

WHERE MADE: SYDNEY

THE COURT ORDERS THAT: 1. Orders be made in accordance with the short minutes of order attached at Annexure A; and 2. The third applicant is to pay the costs of the appearance of the Australian Prudential Regulation Authority. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

ANNEXURE A IN THE FEDERAL COURT OF AUSTRALIA ) No 1415 of 2004 NEW SOUTH WALES DISTRICT REGISTRY )

Form 47 (Order 36, rule 4) THE APPLICATION OF SGIC GENERAL INSURANCE LIMITED ABN 68 069 065 158 First Applicant SGIO INSURANCE LIMITED ABN 30 058 277 866 Second Applicant INSURANCE AUSTRALIA LIMITED ABN 11 000 016 722 Third Applicant JUDGE: JACOBSON J DATE OF ORDER: 3 DECEMBER 2004 WHERE MADE: SYDNEY THE COURT ORDERS THAT: 1. Pursuant to section 17F(1) of the Insurance Act 1973 (the Insurance Act), the Insurance Scheme (a copy of which is annexed and marked 'A') [see court file] in relation to the proposed transfer of the insurance business of the First and Second Applicants, be confirmed. 2. Pursuant to section 17F(2) of the Insurance Act, that all reinsurance treaties and agreements entered into by the First and Second Applicants as insurers and to which these Applicants are a party (as reinsureds) are valid, effective and continuing agreements between the Third Applicant in place of the First and Second Applicants and the parties (other than the First and Second Applicants) to those reinsurance treaties and agreements. 3. On and from the day this order is made the Third Applicant will: (a) be bound by; (b) perform the obligations under; (c) be entitled to the benefits of and to take action under; and (d) assume all obligations and liabilities in respect of and relating to any matters arising out of, the reinsurance treaties and agreements referred to in order 2, as if it were a party, and at all times had been a party, to such reinsurance treaties and arrangements, in the place of the First and Second Applicants. 4. On and from the day after these orders are made, the First and Second Applicants will be released from all obligations and liabilities under the reinsurance treaties and arrangements referred to in order 2. 5. Liberty be reserved to the Applicants and each of them to apply for any consequential orders as may be considered necessary or desirable under Part III, Division 3A of the Insurance Act. 6. These orders be entered forthwith.