Municipal Mutual Insurance Limited, in the matter of Municipal Mutual Insurance Limited [2008] FCA 2011

FEDERAL COURT OF AUSTRALIA

Municipal Mutual Insurance Limited, in the matter of Municipal Mutual Insurance Limited [2008] FCA 2011

MUNICIPAL MUTUAL INSURANCE LIMITED, IN THE MATTER OF MUNICIPAL MUTUAL INSURANCE LIMITED

NSD 1874 of 2008

EMMETT J

12 DECEMBER 2008

SYDNEY IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NSD 1874 of 2008

IN THE MATTER OF MUNICIPAL MUTUAL INSURANCE LIMITED, MUNICIPAL MUTUAL INSURANCE LIMITED

ARBN 007 509 873

Plaintiff

JUDGE: EMMETT J

DATE OF ORDER: 12 DECEMBER 2008

WHERE MADE: SYDNEY

THE COURT ORDERS THAT:

1. Pursuant to section 17C(5) of the Insurance Act 1973 (the Act), the need for the applicant to comply with section 17C(2)(c) of the Act is dispensed with provided that the Applicant complies with Orders 2, 3 and 4 below. 2. The Applicant, before the scheme for the transfer of insurance business from the Applicant to Gordian Runoff Limited (the Scheme) is released for public inspection under order 4 below, cause a copy of a summary of the Scheme approved by the Australian Prudential Regulation Authority (APRA) to be sent by pre-paid post to: (a) all policyholders of the Applicant's Australian branch that the Applicant has identified from its records and from the publicly available sources consulted by it, as described in the affidavits of Robert Conry Brauer sworn on 3 December 2008 and Kerry Newcombe sworn on 4 December 2008, for which the Applicant has an address; and (b) each broker known by the Applicant to have placed or administered any Transferring Policy (as defined in the Scheme) at its registered address or last known address maintained upon the records of the Applicant along with a covering letter from the Applicant requesting that such brokers pass on a copy of the approved summary of the Scheme to any policyholder who may, according to the broker's records, be the holder of a Transferring Policy. 3. The Applicant cause an advertisement providing notification of the proposed Scheme (in a form approved by APRA) to be placed in the Gazette and newspapers, approved by APRA, circulating in each State and Territory of Australia before the Scheme is released for public inspection under order 4 below. 4. The Applicant make a copy of the Scheme and any actuarial report upon which it is based available for inspection for a period of at least 15 business days (between the hours of 9.00 am and 5.00 pm Monday to Friday), prior to the date on which the Scheme is to be confirmed by the Court, at locations approved by APRA under Prudential Standard GPS 410 in each State and Territory in which an affected policyholder resides. 5. The proceeding be adjourned for hearing on 27 February 2009. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.