Commonwealth Consolidated Acts

INSURANCE ACQUISITIONS AND TAKEOVERS ACT 1991 - SECT 78

             (1)  This section applies if:

                     (a)  a company registered under the Life Insurance Act 1995 had, under the Financial Sector (Collection of Data) Act 2001 , given to APRA copies of financial statements for, or as at the end of, a particular accounting period; and

                     (b)  an amount is shown in those statements as the total net liabilities in respect of all of the company's contracts of life insurance as at the end of the accounting period.

             (2)  For the purposes of this Act, the financial statements are prima facie evidence of the total net liabilities in respect of all of the company's contracts of life insurance as at the end of the accounting period.

             (3)  APRA may certify that a document is a copy of the financial statements.

             (4)  This section applies to the certified copy as if it were the original.