Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Asteron Life Ltd, in the matter of Asteron Life Ltd [2011] FCA 1230 Citation: Asteron Life Ltd, in the matter of Asteron Life Ltd [2011] FCA 1230
Parties: ASTERON LIFE LIMITED ABN 64 001 698 228 and SUNCORP LIFE & SUPERANNUATION LIMITED ABN 87 073 979 530
File number: NSD 1677 of 2011
Judge: RARES J
Date of judgment: 21 October 2011
Legislation: Life Insurance Act 1995 (Cth) ss 191(2)(b), 191(2)(c), 191(5)
Date of hearing: 21 October 2011
Place: Sydney
Division: GENERAL DIVISION
Category: No catchwords
Number of paragraphs: 9
Counsel for the Applicant: Mr F Gleeson SC with Ms M McCarthy
Solicitor for the Applicant: Freehills
IN THE FEDERAL COURT OF AUSTRALIA NEW SOUTH WALES DISTRICT REGISTRY GENERAL DIVISION NSD 1677 of 2011
IN THE MATTER OF ASTERON LIFE LIMITED IN THE MATTER OF SUNCORP LIFE & SUPERANNUATION LIMITED ASTERON LIFE LIMITED ABN 64 001 698 228
First Applicant
SUNCORP LIFE & SUPERANNUATION LIMITED ABN 87 073 979 530
Second Applicant
JUDGE: RARES J DATE OF ORDER: 21 OCTOBER 2011 WHERE MADE: SYDNEY
THE COURT ORDERS THAT:
1. Pursuant to subsection 191(5) of the Life Insurance Act 1995 (Cth) (the Act) the requirements of paragraph (c) of subsection 191(2) be dispensed with insofar as it requires that an approved summary of the Scheme be given to owners of policies issued by Suncorp Life & Superannuation Limited. 2. Pursuant to subsection 191(5) of the Act the requirements of paragraph (c) of subsection 191(2) be dispensed with insofar as it requires that an approved summary of the Scheme be given to policy owners of Asteron Life Limited: (a) for whom Asteron Life Limited has no record of a current mailing address; or (b) who cease to maintain a current mailing address with Asteron Life Limited after despatch of the approved summary of the Scheme to owners of policies issued by Asteron Life Limited. 3. Pursuant to subsection 191(5) of the Act the requirements of paragraph (c) of subsection 191(2) be dispensed with insofar as it requires that an approved summary of the Scheme be given to owners of policies issued by Asteron Life Limited who become owners of policies issued by Asteron Life Limited less than 18 days prior to the hearing of this application and up to the Effective Time as defined in the Scheme. 4. The application otherwise be adjourned to 10.15am on 13 December 2011 for hearing. 5. The Applicants pay the costs of the proceedings of the Australian Prudential Regulation Authority as agreed or assessed. 6. The Applicants and the Australian Prudential Regulation Authority have liberty to apply on two clear days notice. Note: Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011.
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