MDU Australian Insurance Company Pty Limited, in the matter of MDU Australian Insurance Company Pty Limited [2008] FCA 342

FEDERAL COURT OF AUSTRALIA

MDU Australian Insurance Company Pty Limited, in the matter of MDU Australian Insurance Company Pty Limited [2008] FCA 342 INSURANCE – scheme of arrangement – transfer of insurance business under the Insurance Act 1973 (Cth) – notification of affected policyholders – whether appropriate to partially dispense with requirement for notification

Insurance Act 1973 (Cth) ss 17B, 17C IN THE MATTER OF MDU AUSTRALIA INSURANCE COMPANY PTY LIMITED, MDU AUSTRALIA INSURANCE COMPANY PTY LIMITED NSD 152 OF 2008

EMMETT J

14 FEBRUARY 2008

SYDNEY IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NSD 152 OF 2008

in the matter of MDU AUSTRALIA INSURANCE COMPANY PTY LIMITED MDU AUSTRALIA INSURANCE COMPANY PTY LIMITED

First Applicant

AVANT INSURANCE LIMITED

Second Applicant

JUDGE: EMMETT J

DATE: 14 FEBRUARY 2008

PLACE: SYDNEY

THE COURT ORDERS THAT:

1. Upon the Australian Prudential Regulation Authority approving a summary of the proposed scheme involving the applicants, referred to in para 2 of the affidavit of Christopher Bratchford sworn 13 February 2008, the need for compliance by the First Applicant with s 17C(2)(c) of the Insurance Act 1973 (Cth) in relation to that scheme, be dispensed with subject to the First Applicant complying with order 2 below. 2. (a) The First Applicant cause a copy of such approved summary to be sent to each person who, at the date the mailing procedure is to be commenced (mail out date), is the holder of a policy issued by the First Applicant in respect of which there is a notified claim that is outstanding; and (b) In the event that any copy of such approved summary sent by the First Applicant is returned to it within two weeks of the mail out date marked undelivered, the First Applicant obtain from the electoral roll the current mailing address of the person to whom the Approved Scheme Summary was sent and to send a copy of the Approved Scheme Summary to that address. 3. Pursuant to s 190 of the Evidence Act 1995 (Cth), evidence as to compliance by the applicants with s 17C(2)(b) and (c) of the Insurance Act 1973 (Cth) and Prudential Standard GPS 410 may be given at the hearing of the application by one or more affidavits made upon information and belief. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules. IN THE FEDERAL COURT OF AUSTRALIA