Federal Court of Australia
Federal Court of Australia
FM Insurance Company Ltd, in the matter of FM Insurance Company (No 2) [2021] FCA 1653 File number: NSD 1131 of 2021
Judgment of: MARKOVIC J
Date of judgment: 20 December 2021
Date of publication of reasons: 18 January 2022
Catchwords: INSURANCE – application for approval of scheme for transfer of insurance business carried on by applicant pursuant to s 17F of the Insurance Act 1973 (Cth) – second hearing – whether implementation of the scheme will materially detrimentally affect any relevant policyholders – where no detriment to policyholders – where Australian Prudential Regulation Authority does not oppose proposed scheme – where substantial compliance with Orders made at first hearing – where non-compliance of a technical nature only – application granted
Legislation: Insurance Act 1973 (Cth) ss 17B, 17C, 17F
Cases cited: ACE Insurance Ltd, in the matter of ACE Insurance Ltd (No 2) [2016] FCA 1258 Atradius Credit Insurance N.V., in the matter of Atradius Credit Insurance N.V. (No 2) [2016] FCA 1495 Copenhagen Reinsurance Company Limited, in the matter of the application for Copenhagen Reinsurance Company Limited [2011] FCA 23 In the Matter of FM Insurance Company Limited [2021] FCA 1442 Municipal Mutual Insurance Limited, in the matter of Municipal Mutual Insurance Ltd [2009] FCA 378 Re Westport Insurance Corporation (No 2) (2009) 181 FCR 530
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