ANZ Life Assurance Company Limited (ABN 63 008 425 652) and ING Life Limited (ABN 33 009 657 176) [2005] FCA 596

FEDERAL COURT OF AUSTRALIA

ANZ Life Assurance Company Limited (ABN 63 008 425 652) and ING Life Limited (ABN 33 009 657 176) [2005] FCA 596

INSURANCE – life insurance – transfer of business – procedural preconditions designed to ensure policyholders given adequate information about scheme – application to Court to dispense with certain requirements – dispensations granted Life Insurance Act 1995 (Cth), s 191 Re Challenger Life Limited [2004] FCA 618, referred to Re Commonwealth Life Limited & Anor [2003] FCA 501, referred to Re Munich Reinsurance Company of Australasia Limited [2004] FCA 1391, referred to

ANZ LIFE ASSURANCE COMPANY LIMITED (ABN 63 008 425 652) AND ING LIFE LIMITED (ABN 33 009 657 176)

NSD 463 OF 2005

GYLES J

3 MAY 2005

SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NSD 463 OF 2005

ANZ LIFE ASSURANCE COMPANY LIMITED (ABN 63 008 425 652) AND ING LIFE LIMITED (ABN 33 009 657 176)

APPLICANTS JUDGE: GYLES J

DATE OF ORDER: 3 MAY 2005

WHERE MADE: SYDNEY

THE COURT MAKES: 1. An order in accordance with Section 191(5) of the Life Insurance Act 1995 (Cth), that the requirements of paragraph (c) of sub-section 191(2) of the Life Insurance Act 1995 (Cth) be dispensed with in so far as it requires an approved summary of the scheme to be given to owners of policies issued by ING Life Limited (ING Life) referrable to ING Life's Statutory Funds No. 1, 2, 3 and 4.

2. An order in accordance with Section 191(5) of the Life Insurance Act 1995 (Cth), that the requirements of paragraph (c) of sub-section 191(2) of the Life Insurance Act 1995 (Cth) be dispensed with in so far as it requires an approved summary of the scheme to be given to owners of policies issued by ANZ Life Assurance Company Limited (ANZ Life) for whom ANZ Life has no record of a correct mailing address.