INSURANCE ACT 1973 - SECT 92D Court's control of judicial trustee

INSURANCE ACT 1973 - SECT 92D

  (1)   A judicial trustee is subject to the control of the Federal Court.

  (2)   In addition to duties imposed by this Division, a judicial trustee has such duties as the Federal Court directs.

  (3)   A judicial trustee may apply to the Federal Court at any time for instructions:

  (a)   as to the way in which the judicial trusteeship should be conducted; or

  (b)   in relation to any matter arising during the judicial trusteeship.

  (4)   Before applying to the Federal Court for instructions, the judicial trustee must:

  (a)   inform APRA that he or she intends to make the application; and

  (b)   give APRA written details of the application.

  (5)   APRA is entitled to be heard on the application.

  (6)   The Federal Court must not give a direction or an instruction under this section that is inconsistent with the fund's trust deed.