Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
In the Application of Commonwealth Insurance Holdings Ltd and The Colonial Mutual Life Assurance Society Ltd [2007] FCA 1012
INSURANCE – life insurance – scheme for amalgamation of life insurance businesses – application to Court for confirmation of scheme – compliance with Life Insurance Act 1995 (Cth) and Life Insurance Regulations 1995 (Cth) HELD – scheme confirmed without modification Life Insurance Act 1995 (Cth) ss 3, 191, 193, 194 Life Insurance Regulations 1995 (Cth) Reg 9.02(1) Insurance Acquisition and Takeovers Act 1991 (Cth) Colonial Portfolio Services Ltd v Australian Prudential Regulation Authority (2000) 11 ANZ Ins Cas 90-103; [1999] FCA 1779 applied NuLife Insurance Ltd v Norwich Union Life Australia Ltd [2005] FCA 1635 applied MLC Lifetime Company Ltd & Anor (No. 2) [2006] FCA 1367 applied
IN THE APPLICATION OF COMMONWEALTH INSURANCE HOLDINGS LIMITED and THE COLONIAL MUTUAL LIFE ASSURANCE SOCIETY LIMITED NSD 942 OF 2007
EDMONDS J
5 JULY 2007
SYDNEY
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY NSD 942 OF 2007
IN THE APPLICATION OF: COMMONWEALTH INSURANCE HOLDINGS LIMITED
AND: First Applicant
THE COLONIAL MUTUAL LIFE ASSURANCE SOCIETY LIMITED
Second Applicant
JUDGE: EDMONDS J DATE OF ORDER: 29 JUNE 2007
WHERE MADE: SYDNEY
THE COURT ORDERS THAT:
1. Pursuant to section 194 of the Life Insurance Act 1995 (Cth) ('the Act'), the scheme for the amalgamation of the life insurance business of Commonwealth Insurance Holdings Limited with the life insurance business of The Colonial Mutual Life Assurance Society Limited, in the form of the document annexed hereto and marked 'A' (comprising the Scheme and the executed Scheme Deed dated 28 May 2007), be confirmed. 2. The applicants pay the costs of the proceedings of the Australian Prudential Regulation Authority as agreed or assessed. 3. These orders be entered forthwith. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
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