Federal Court of Australia
Federal Court of Australia
OnePath General Insurance Pty Limited, in the matter of OnePath General Insurance Pty Limited [2023] FCA 1424 File number(s): NSD 783 of 2023
Judgment of: JACKMAN J
Date of judgment: 16 November 2023
Date of publication of reasons: 17 November 2023
Catchwords: CORPORATIONS – application for confirmation of scheme for transfer of insurance business – whether implementation of the scheme will materially detrimentally affect policyholders – where the transferor is in run-off and does not accept new business – where no change will be effected to the policies or the management of claims on those policies – where the partial non-compliance with the dispensation orders is immaterial – scheme confirmed
Legislation: Insurance Acquisition and Takeovers Act 1991 (Cth) s 41 Insurance Act 1973 (Cth) ss 17C, 17F
Cases cited: Australian Securities and Investments Commission v Zurich Australia Limited [2023] FCA 712 Dunghutti Elders Council (Aboriginal Corporation) RNTBC v Registrar of Aboriginal and Torres Strait Islander Corporations (No 4) [2012] FCAFC 50; (2012) 200 FCR 154 Re AIA Australia Limited (No 2) [2023] FCA 1305 Re Aioi Nissay Dowa Insurance Co Ltd [2023] FCA 697 Re Allianz Australia General Insurance Limited [2023] FCA 994 Re Insurance Australia Limited (No 2) [2017] FCA 980 Re OnePath Life Ltd [2022] FCA 406 Reilly v Australia and New Zealand Banking Group Limited (No 5) [2023] FCA 896
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