Safety, Rehabilitation and Compensation (MLC Wealth Limited) Notice of Revocation of Licence 2021 (Cth)

Safety, Rehabilitation and Compensation (MLC Wealth Limited) Notice of Revocation of Licence 2021

The Safety, Rehabilitation and Compensation Commission makes the following instrument.

Dated 28th day of May 2021

Peter J Richards Chairperson Safety, Rehabilitation and Compensation Commission

Contents 1 Name 2 Commencement 3 Authority 4 Definitions 5 Revocation of licence Schedule 1—Preserved licence Part 1—Interpretation 1 Interpretation 2 Definitions Part 2—Grant of licence 3 Eligible applicant 4 Licence decisions 5 Period of Licence Part 3—Scope of licence 6 Scope of licence—acceptance of liability 7 Scope of licence—management of claims Part 4—Conditions of licence 8 Conditions of licence Division 1—General conditions 9 Communication 10 Directions of Commission 11 Requirements 12 Fees 13 Manner of managing claims 14 Management systems 15 Reviews and proceedings 16 Failure to comply with conditions or change in circumstances 17 Information and reporting requirements 18 Claims Manager Division 2—Performance conditions 19 Performance standards and measures Division 3—Prudential conditions 20 Liability Report 21 Yearly accounts 22 Guarantee 23 Reinsurance Division 4—Sale conditions 24 Replacement Guarantee

1 Name This instrument is the Safety, Rehabilitation and Compensation (MLC Wealth Limited) Notice of Revocation of Licence 2021.

2 Commencement This instrument commences on 1 June 2021.

3 Authority This instrument is made under the Safety, Rehabilitation and Compensation Act 1988.

4 Definitions Note: A number of expressions used in this instrument are defined in the Act, including the following: (a) claim; (b) employee; (c) injury; (d) licence; (e) manage; (f) principal officer; (g) rehabilitation authority; (h) relevant employer. In this instrument: Act means the Safety, Rehabilitation and Compensation Act 1988. Comcare means body corporate established by section 68 of the Act. Commission means the Safety, Rehabilitation and Compensation Commission, the body established by section 89A of the Act. final licence means the licence granted by the Commission to MLC Wealth Limited (ABN 97 071 514 264) on 13 December 2006, as varied and extended by the Commission, and set out in Safety, Rehabilitation and Compensation (MLC Wealth Limited) Notice of Variation of Licence 2021. former licensed corporation, at any time after the final licence is revoked by the Commission, means MLC Wealth Limited (ABN 97 071 514 264). licence means the licence granted by the Commission to MLC Wealth Limited (ABN 97 071 514 264), as varied and extended, and notified by Notice No. 1 of 2021 in Gazette reference number C2021G00203 published on 18 March 2021. preservation period means the period beginning on the day the final licence is revoked and ending on the day determined by the Commission under subsection 29(2) of the Regulations. preserved licence means the licence the former licensed corporation is taken to hold pursuant to subsection 28(1) of the Regulations as set out in Schedule 1. Regulations means the Safety, Rehabilitation and Compensation Regulations 2019.