Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
St Andrew's Insurance (Australia) Pty Ltd, in the mater of St Andrew's Insurance (Australia) Pty Ltd [2024] FCA 881 File number: NSD 519 of 2024
Judgment of: JACKMAN J
Date of judgment: 7 August 2024
Catchwords: CORPORATIONS – schemes – transfer of insurance business – whether implementation of schemes will detrimentally affect policyholders – where schemes proposed as part of an internal merger – where no material change to contractual rights or benefits of policyowners – where remediation programs will continue – where partial non-compliance with dispensation orders immaterial – scheme confirmed
Legislation: Insurance Act 1973 (Cth) s 17F Life Insurance Act 1995 (Cth) s 194 Life Insurance Regulations 2024 (Cth) reg 7
Cases cited: Re Ace Insurance Ltd (No 2) [2016] FCA 1258 Re AIA Australia Ltd (No 2) [2023] FCA 1305 Re Asteron Life & Superannuation Ltd (No 3) [2021] FCA 1148; (2021) 394 ALR 89 Re Australian Branch of Great Lakes Insurance SE (trading as Great Lakes Australia) (No 2) [2020] FCA 1266 Re Colonial Life Assurance Society Limited [2021] FCA 394 Re OnePath General Insurance Pty Ltd [2023] FCA 1424 Re Westport Insurance Corporation (No 2) (2009) 181 FCR 530
Division: General Division
Registry: New South Wales
National Practice Area: Commercial and Corporations
Sub-area: Commercial Contracts, Banking, Finance and Insurance
Number of paragraphs: 82
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