Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Macquarie Life Limited, in the matter of Macquarie Life Limited [2016] FCA 973 File number: NSD 1256 of 2016
Judge: ALLSOP CJ
Date of judgment: 12 August 2016
Catchwords: INSURANCE – application under s 193 of the Life Insurance Act 1995 (Cth) for confirmation of a scheme transferring life insurance business – interlocutory application for dispensation of requirements of s 191(2)(c) – the meaning of "affected policy owner" under the Life Insurance Act–the difference between an "affected policy owner" under the Life Insurance Act and an "affected policyholder" under the Insurance Act 1973 (Cth) – an "affected policy owner" as a reference to a policy affected by the scheme, not an owner who was affected by the scheme– evidentiary considerations to be taken into account by the Court when granting a dispensation–where steps proposed to be taken are adequate to minimise disadvantage to the people of the dispensation– orders for dispensation made
Legislation: Life Insurance Act 1995 (Cth), ss 10, 29, 30, 62, 63, 191, 193, 194 Insurance Act 1973 (Cth), s 17C
Cases cited: Insurance Australia Limited (2004) 139 FCR 450 W.R. Berkley Insurance (Europe) Limited, in the matter of Division 3A of Part III of the Insurance Act (1973) [2016] FCA 374
Date of hearing: 11 August 2016
Registry: New South Wales
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