INSURANCE ACT 1973 - SECT 92E Direction not to deal with certain assets

INSURANCE ACT 1973 - SECT 92E

  (1)   If:

  (a)   a designated security trust fund is under judicial trusteeship; and

  (b)   the Federal Court is satisfied that it is in the interests of the holders of contracts of insurance covered by the fund to make an order under this subsection;

the Court may order:

  (c)   that the judicial trustee must not dispose of, or otherwise deal with or remove from Australia, any asset of the fund; or

  (d)   that the judicial trustee must not dispose of, or otherwise deal with or remove from Australia, a specified asset of the fund; or

  (e)   that the judicial trustee must deal with a specified asset of the fund on such terms and conditions as are specified in the order.

  (2)   The Federal Court may rescind or vary an order under subsection   (1).