Commonwealth Consolidated Acts

LIFE INSURANCE ACT 1995 - SECT 16J

                   Section 43 has effect in relation to a friendly society as if the following paragraph were inserted after paragraph (3)(b):

                    (ba)  nothing in this Act authorises a friendly society to make an investment of assets of an approved benefit fund unless:

                              (i)  the investment is of a kind provided for by the approved benefit fund rules; and

                             (ii)  the investment complies with the requirements (if any) in Prudential Rules or the prudential standards;