St Andrew’s Life Insurance Pty Ltd, the application of St Andrew’s Life Insurance Pty Ltd and The Colonial Mutual Life Assurance Society Limited (No 2) [2010] FCA 637

FEDERAL COURT OF AUSTRALIA

St Andrew's Life Insurance Pty Ltd, the application of St Andrew's Life Insurance Pty Ltd and The Colonial Mutual Life Assurance Society Limited (No 2) [2010] FCA 637 Citation: St Andrew's Life Insurance Pty Ltd, the application of St Andrew's Life Insurance Pty Ltd and The Colonial Mutual Life Assurance Society Limited (No 2) [2010] FCA 637

Parties: ST ANDREW'S LIFE INSURANCE PTY LTD (ABN 98 105 176 243) and THE COLONIAL MUTUAL LIFE ASSURANCE SOCIETY LIMITED (ABN 12 004 021 809)

File number(s): NSD 495 of 2010

Judge: JACOBSON J

Date of judgment: 17 June 2010

Catchwords: INSURANCE – application for confirmation under Part 9 of the Life Insurance Act 1995 (Cth) of a scheme for the transfer and amalgamation of life insurance businesses – principles which govern the exercise of the Court's discretion to confirm the scheme – scheme approved with modification for minor typographical error

Legislation: Life Insurance Act 1995 (Cth) Part 9 Insurance Acquisitions and Takeovers Act 1991 (Cth) s 41

Cases cited: St Andrew's Life Insurance Pty Ltd, the application of St Andrews Life Insurance Pty Ltd and The Colonial Mutual Life Assurance Society Limited [2010] FCA 488 referred to Re Metlife Insurance Ltd (2007) 63 ACSR 492 discussed Re Royal & Sun Alliance Life Assurance Ltd (2000) 104 FCR 37 discussed Prefsure Life Ltd & Tower Australia Limited [2007] FCA 480 referred to In Application of Commonwealth Insurance Holdings Ltd & Anor [2007] FCA 1012 followed The Application of Advance Life Insurance Limited & Anor (unreported, Sheppard J, 18 February 1997) followed