Federal Court of Australia
Federal Court of Australia
Asteron Life & Superannuation Limited, in the matter of Asteron Life & Superannuation Limited (No 3) [2021] FCA 1148 File number: NSD 575 of 2021
Judgment of: ALLSOP CJ
Date of judgment: 24 September 2021
Catchwords: INSURANCE – life insurance – scheme for transfer of life insurance business – application to Court for confirmation of scheme pursuant to s 193 of the Life Insurance Act 1995 (Cth) (Act) – principles applicable to confirmation of scheme of transfer INSURANCE – application pursuant to s 191(5) of the Act to dispense with the requirement to comply with s 191(2)(c) – principles applicable to dispensation
Legislation: Corporations Act 2001 (Cth) Financial Sector (Shareholdings) Act 1998 (Cth) Insurance Acquisitions and Takeovers Act 1991 (Cth) Life Insurance Act 1995 (Cth) Life Insurance Regulations 1995 (Cth)
Cases cited: Asteron Life & Superannuation Limited, in the matter of Asteron Life & Superannuation Limited [2021] FCA 708 Asteron Life & Superannuation Limited, in the matter of Asteron Life & Superannuation Limited (No 2) [2021] FCA 880 BT Life Limited, in the matter of BT Life Limited [2011] FCA 1100 Colonial Mutual Life Assurance Society Limited, in the matter of the Colonial Mutual Life Assurance Society Limited [2021] FCA 394 Macquarie Life Limited, in the matter of Macquarie Life Limited [2016] FCA 973 MLC Lifetime Company Limited and MLC Limited (No 2) [2006] FCA 1367 National Mutual Life Association of Australasia Limited v Challenger Life No 2 Ltd [2009] FCA 1 National Mutual Life Association of Australasia Limited, the application of National Mutual Life Association of Australasia Limited and AMP Life Limited [2016] FCA 1219 NULIFE Insurance Ltd v Norwich Union Life Australia Ltd [2005] FCA 1635 QBE Insurance Australia Limited, in the matter of QBE Insurance Australia Limited [2012] FCA 1127 Re Commonwealth Insurance Holdings Ltd [2007] FCA 1012 Re Royal & Sun Alliance Life Assurance Ltd [2000] FCA 1259; 104 FCR 37 St George Life Limited, in the matter of St George Life Limited [2018] FCA 1206 The application of Commonwealth Life Limited [2003] FCA 501; 12 ANZ Insurance Cases 90-117 The Colonial Mutual Life Assurance Society Limited, in the matter of The Colonial Mutual Life Assurance Society Limited [2020] FCA 1809
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