INSURANCE ACT 1973 - SECT 92L Report by judicial trustee

INSURANCE ACT 1973 - SECT 92L

  (1)   As soon as practicable after becoming the judicial trustee of a designated security trust fund, the judicial trustee must file with the Federal Court a report that:

  (a)   recommends the course of action that is, in his or her opinion, most advantageous to the interests of the holders of contracts of insurance covered by the fund; and

  (b)   sets out the reasons for that recommendation.

  (2)   As soon as practicable after filing a report under this section, the judicial trustee must give a copy of the report to APRA and Lloyd's.

  (3)   A report, or a copy of a report, under this section must be available for inspection by any person:

  (a)   at the Registry of the Federal Court in which the report is filed, during the business hours of that Registry; and

  (b)   at such other place (if any) as APRA determines.