"RSA provider" has the same meaning as in the Retirement Savings Accounts Act 1997 .

Insert:

or (ba) a contract of insurance where the premiums are paid from an RSA;

After "policy", insert "or contract".

Insert:

(4)

A reference in this Act to a representative of an RSA provider includes a reference to an agent, employee or officer of the RSA provider, or of an associate of the RSA provider, who engages in conduct in relation to an RSA.

After "an insurer", insert ", an RSA provider".

Note: The heading to section 4 is altered by inserting ", RSA provider", after "insurer" .

After "trustee, insurer" (wherever occurring), insert ", RSA provider".

Insert:

or (c) a director or employee of an RSA provider; or

(d)

a director or employee of an insurer;

Omit all the words from and including "either:", substitute "by 3 Tribunal members selected by the Tribunal Chairperson.".

Insert:

(3B)

If neither the Chairperson nor the Deputy Chairperson is present at a particular meeting, the Tribunal member selected by the Chairperson is to preside at that meeting.".

Insert:

(ba)

an RSA provider; or

(bb)

an insurer; or

(bc)

an RSA; or

Omit "and beneficiaries of approved deposit funds", substitute ", beneficiaries of approved deposit funds, holders of RSAs and holders of annuity policies".

Insert:

(1)

A person who is, or claims to be, the holder, or the former holder of an RSA may make a complaint (other than an excluded complaint) to the Tribunal, that the conduct of the RSA provider, or of a representative of the RSA provider, in respect of the opening of the RSA, was unfair or unreasonable.

Note: Although a complaint is about the conduct of an RSA provider, the Tribunal may join an insurer and any other person, as parties to the complaint (see subsection 18(3A)). The Tribunal may then review any conduct of the person joined that may be relevant to the complaint.

(2)

A complaint under this section is to be made by sending or delivering a written complaint to the office of the Tribunal.

(3)

When a complaint is made under this section concerning the conduct of the RSA provider, or of a representative of the RSA provider, in respect of the opening of an RSA, the Tribunal must, in determining whether the conduct of the RSA provider or of a representative of the RSA provider was unfair or unreasonable, have regard, in particular, to the question whether that conduct involved:

(a)

undue influence or pressure on the RSA holder; or

(b)

material misrepresentation made to the RSA holder;

in relation to the opening of the RSA.

(4)

For the purposes of subsection (3), the Tribunal may take into account:

(a)

the age, physical and mental condition, educational attainments and financial means of the RSA holder; and

(b)

the relative bargaining positions of the RSA provider or the RSA provider's representative and of the RSA holder or any person acting for the RSA holder; and

(c)

the insurance and personal superannuation needs of the RSA holder or of any other person having, or claiming to have, an interest in the RSA as known to, or reasonably ascertainable by, the RSA provider or the RSA provider's representative; and

(d)

the importance of ensuring that RSA providers act with fairness, openness and propriety in relation to the opening of RSAs and take reasonable steps to ensure that their representatives also act with fairness, openness and propriety in relation to the opening of RSAs; and

(e)

the objects of this Act; and

(f)

any other matter that the Tribunal considers relevant.

(1)

Subject to subsections (3) to (6) and section 15G, a person may, at any time, make a complaint (other than an excluded complaint) to the Tribunal, that a decision of an RSA provider in relation to a particular RSA holder or former RSA holder, is or was unfair or unreasonable.

Note: Although a complaint is about a decision of an RSA provider, the Tribunal may join an insurer and any other person, as parties to the complaint (see subsection 18(3A)). The Tribunal may then review any decision of the person joined that may be relevant to the complaint.

(2)

If a person is given a notice by an RSA provider in respect of an RSA setting out:

(a)

the RSA provider's decision in relation to the person's objection to the proposed payment of a death benefit under the RSA; and

(b)

the prescribed period within which the person must complain to the Tribunal about the decision;

the person may only complain to the Tribunal within that period.

(3)

The Tribunal cannot deal with a complaint under this section that must be made within the prescribed period referred to in subsection (2) if the complaint is not made within that period.

(4)

The Tribunal cannot deal with a complaint under this section to the extent that it relates to the management as a whole of:

(a)

an RSA provider; or

(b)

an RSA provider's business; or

(c)

an RSA provider's investments.

(5)

The Tribunal cannot deal with a complaint under this section about a decision of an RSA provider relating to the payment of a disability benefit because of total and permanent disability unless the complaint is made within a period of one year after the making of the decision to which the complaint relates.

(6)

The Tribunal cannot deal with a complaint under this section about a decision of an RSA provider relating to the payment of a disability benefit because of total and permanent disability if:

(a)

before the making of the decision, the person permanently ceased particular employment because of the physical or mental condition that gave rise to the claim for disability benefit; and

(b)

the claim was not lodged, or is not lodged, with the RSA provider, within one year after the person permanently ceased that employment because of that physical or mental condition.

(7)

Without limiting the meaning of a decision of an RSA provider relating to the payment of a disability benefit in any other provision of this Act, that expression means, for the purposes of subsections (5) and (6), the original decision of the RSA provider in relation to the matter.

(8)

For the purposes of subsection (7), if, as a result of a complaint about the original decision of the RSA provider under arrangements made under section 47 of the Retirement Savings Accounts Act 1997 , the original decision was confirmed or varied, or another decision was substituted for the original decision:

(a)

the decision as so confirmed or varied, or the substituted decision, is taken to be the original decision; and

(b)

the decision as so confirmed or varied, or the substituted decision, is taken to have been made at the time when the original decision was made.

(9)

A complaint under this section is to be made by sending or delivering a written complaint to the office of the Tribunal.

(10)

When a complaint is made under this section about a decision of an RSA provider under an RSA, the Tribunal must, in determining whether that decision is or was unfair or unreasonable, have regard, in particular:

(a)

to the seriousness of any failure to discharge an obligation under the terms of the RSA; and

(b)

to any action taken by the RSA provider that is contrary to the best interests of the RSA holder or any other person having an interest under the RSA.

(1)

A person may make a complaint under section 15F concerning a decision of an RSA provider in relation to an RSA only if:

(a)

in the case of a decision that relates to the payment of a death benefit:

(i)

the person has an interest in the benefit; or

(ii)

the person claims to be, or to be entitled to benefits through, a person referred to in subparagraph (i); or

(iii)

the person is acting for a person referred to in subparagraph (i) or (ii); or

(b)

in the case of a decision that does not relate to the payment of a death benefit—the person is:

(i)

the holder or the former holder of the RSA; or

(ii)

a person acting for the holder or the former holder of the RSA, or for the estate of such a person.

(2)

A person does not have an interest in a death benefit for the purposes of paragraph (1)(a) unless:

(a)

the person:

(i)

has been given written notice by the RSA provider of the proposed payment of the benefit; and

(ii)

has been given written notice by the RSA provider of the prescribed period within which the person may object; and

(iii)

has objected to the RSA provider within the prescribed period; or

(b)

the person has not been notified by the RSA provider of the proposed payment of the benefit and the failure to notify was unreasonable; or

(c)

the person has been notified by the RSA provider of the proposed payment of the benefit but was not notified of the prescribed period to object to the payment; or

(d)

the person has been notified by the RSA provider of the proposed payment of the benefit but was notified of a period less than the prescribed period for the purposes of subparagraph (a)(ii).

(1)

A person who is, or claims to be, the holder, or the former holder, of an RSA may complain to the Tribunal that the conduct of an insurer, or of a representative of an insurer, in respect of the sale of insurance benefits in relation to a contract of insurance where the premiums are paid from an RSA, was unfair or unreasonable.

Note: Although a complaint is about the conduct of an insurer, the Tribunal may join the RSA provider and any other person, as parties to the complaint (see subsection 18(3B)). The Tribunal may then review any conduct of the person joined that may be relevant to the complaint.

(2)

A complaint under this section is to be made by sending or delivering a written complaint to the office of the Tribunal.

(3)

When a complaint is made under this section concerning the conduct of the an insurer, or of a representative of an insurer, in respect of the entry into a contract of insurance in connection with an RSA, the Tribunal must, in determining whether the conduct of the insurer, or of a representative of the insurer, was unfair or unreasonable, have regard, in particular, to the question whether that conduct involved:

(a)

undue influence or pressure on the RSA holder; or

(b)

material misrepresentation made to the RSA holder;

in relation to entry into the contract.

(4)

For the purposes of subsection (3), the Tribunal may take into account:

(a)

the age, physical and mental condition, educational attainments and financial means of the RSA holder; and

(b)

the relative bargaining positions of the insurer or the insurer's representative and of the RSA holder or any person acting for the RSA holder; and

(c)

the insurance and personal superannuation needs of the RSA holder or of any other person having, or claiming to have, an interest in the RSA as known to, or reasonably ascertainable by, the insurer or the insurer's representative; and

(d)

the importance of ensuring that insurers act with fairness, openness and propriety in relation to entering into contracts of insurance in connection with RSAs and take reasonable steps to ensure that their representatives also act with fairness, openness and propriety in relation to such conduct; and

(e)

the objects of this Act; and

(f)

any other matter that the Tribunal considers relevant.

(1)

Subject to subsections (3) to (6) and to section 15K, a person may, at any time, complain to the Tribunal that a decision of an insurer in relation to a contract of insurance where the premiums are paid from an RSA, is or was unfair or unreasonable.

Note: Although a complaint is about a decision of an insurer, the Tribunal may join the RSA provider and any other person, as parties to the complaint (see subsection 18(3B)). The Tribunal may then review any decision of the person joined that may be relevant to the complaint.

(2)

If a person is given a notice by an insurer in respect of a contract of insurance setting out:

(a)

the insurer's decision in relation to the person's objection to the proposed payment of a death benefit in relation to the contract of insurance; and

(b)

the prescribed period within which the person must complain to the Tribunal about the decision;

the person may only complain to the Tribunal within that period.

(3)

The Tribunal cannot deal with a complaint under this section that must be made within the prescribed period referred to in subsection (2) if the complaint is not made within that period.

(4)

The Tribunal cannot deal with a complaint under this section to the extent that it relates to the management as a whole of:

(a)

an insurer; or

(b)

an insurer's business; or

(c)

an insurer's investments.

(5)

The Tribunal cannot deal with a complaint under this section about a decision of an insurer relating to the payment of a disability benefit because of total and permanent disability unless the complaint is made within a period of one year after the making of the decision to which the complaint relates.

(6)

The Tribunal cannot deal with a complaint under this section about a decision of an insurer relating to the payment of a disability benefit because of total and permanent disability if:

(a)

before the making of the decision, the person permanently ceased particular employment because of the physical or mental condition that gave rise to the claim for disability benefit; and

(b)

the claim was not lodged, or is not lodged, with the insurer, within one year after the person permanently ceased that employment because of the physical or mental condition.

(7)

Without limiting the meaning of a decision of an insurer relating to the payment of a disability benefit in any other provision of this Act, that expression means, for the purposes of subsections (5) and (6), the original decision of the insurer in relation to the matter.

(8)

For the purposes of subsection (7), if, as a result of a complaint about the original decision of the insurer under arrangements made for dealing with complaints, the original decision was confirmed or varied, or another decision was substituted for the original decision:

(a)

the decision as so confirmed or varied, or the substituted decision, is taken to be the original decision; and

(b)

the decision as so confirmed or varied, or the substituted decision, is taken to have been made at the time when the original decision was made.

(9)

A complaint under this section is to be made by sending or delivering a written complaint to the office of the Tribunal.

(10)

When a complaint is made under this section about a decision of an insurer in relation to a contract of insurance entered into in connection with an RSA, the Tribunal must, in determining whether that decision is or was unfair or unreasonable, have regard, in particular:

(a)

to the seriousness of any failure to discharge an obligation under the terms of the contract of insurance; and

(b)

to any action taken by the insurer that is contrary to the best interests of the RSA holder or any other person having an interest under the contract of insurance.

(1)

A person may make a complaint under section 15J concerning a decision of an insurer in relation to a contract of insurance entered into in connection with an RSA only if:

(a)

in the case of a decision that relates to the payment of a death benefit:

(i)

the person has an interest in the benefit; or

(ii)

the person claims to be, or to be entitled to benefits through, a person referred to in subparagraph (i); or

(iii)

the person is acting for a person referred to in subparagraph (i) or (ii); or

(b)

in the case of a decision that does not relate to the payment of a death benefit—the person is:

(i)

the holder or the former holder of the RSA; or

(ii)

a person acting for the holder or the former holder of the RSA, or for the estate of such a person.

(2)

A person does not have an interest in a death benefit for the purposes of paragraph (1)(a) unless:

(a)

the person:

(i)

has been given written notice by the insurer of the proposed payment of the benefit; and

(ii)

has been given written notice by the insurer of the prescribed period within which the person may object; and

(iii)

has objected to the insurer within the prescribed period; or

(b)

the person has not been notified by the insurer of the proposed payment of the benefit and the failure to notify was unreasonable; or

(c)

the person has been notified by the insurer of the proposed payment of the benefit but was not notified of the prescribed period to object to the payment; or

(d)

the person has been notified by the insurer of the proposed payment of the benefit but was notified of a period less than the prescribed period for the purposes of subparagraph (a)(ii).

Add:

(3)

If the complainant sends or delivers a complaint under section 15E or 15F to an office of the Tribunal, the Tribunal must:

(a)

by notice in writing given to the complainant, acknowledge receipt of the complaint; and

(b)

by notice in writing given to the RSA provider concerned:

(i)

tell the RSA provider that a complaint has been made to the Tribunal and identify the complainant; and

(ii)

give details of the complaint; and

(iii)

tell the RSA provider of the RSA provider's obligations under section 24.

(4)

If the complainant sends or delivers a complaint under section 15H or 15J to an office of the Tribunal, the Tribunal must:

(a)

by notice in writing given to the complainant, acknowledge receipt of the complaint; and

(b)

by notice in writing given to the insurer concerned:

(i)

tell the insurer that a complaint has been made to the Tribunal and identify the complainant; and

(ii)

give details of the complaint; and

(iii)

tell the insurer of the insurer's obligations under section 24.

Omit "or 15B", substitute "15B, 15E, 15F, 15H or 15J".

After "18(3)", insert ", (3A) or (3B)".

Omit "or 15B", substitute "15B, 15E, 15F, 15H or 15J".

Omit "or (3)(c)", substitute ", (3)(c), (3A)(e) or (3B)(e)".

Insert:

(3A)

The parties to a complaint under section 15E or 15F are:

(a)

the complainant; and

(b)

the RSA provider; and

(c)

if the subject matter of the complaint relates to a death benefit or a disability benefit in relation to a contract of insurance relating to an RSA, and the Tribunal decides that the insurer should be a party to the complaint—the insurer; and

(d)

if the subject matter of the complaint relates to a disability benefit (whether in relation to a contract of insurance or otherwise) and the Tribunal decides that a person other than an RSA provider or insurer is responsible for determining either or both of the existence and the extent of the disability (whether total and permanent or otherwise)—that person; and

(e)

if any other person has applied to the Tribunal to be made a party to the complaint (whether under section 24A or otherwise) and the Tribunal decides that the person should be a party to the complaint—that person.

(3B)

The parties to a complaint under section 15H or 15J are:

(a)

the complainant; and

(b)

the insurer; and

(c)

if the subject matter of the complaint relates to a death benefit or a disability benefit in relation to a contract of insurance relating to an RSA and the Tribunal decides that the RSA provider should be a party to the complaint—the RSA provider; and

(d)

if the subject matter of the complaint relates to a disability benefit (whether in relation to a contract of insurance or otherwise) and the Tribunal decides that a person other than an RSA provider or insurer is responsible for determining either or both of the existence and the extent of the disability (whether total and permanent or otherwise)—that person; and

(e)

if any other person has applied to the Tribunal to be made a party to the complaint (whether under section 24A or otherwise) and the Tribunal decides that the person should be a party to the complaint—that person.

Add:

(3)

The Tribunal cannot deal with a complaint under section 15E or 15F unless the complainant satisfies the Tribunal that:

(a)

a complaint about the same subject matter was previously made to an appropriate person under arrangements for dealing with such complaints made under section 47 of the Retirement Savings Accounts Act 1997 ; and

(b)

the complaint so made was not settled to the satisfaction of the complainant within 90 days or such longer period as the Tribunal allows.

(4)

The Tribunal cannot deal with a complaint under section 15H or 15J unless the complainant satisfies the Tribunal that the complainant has made all reasonable efforts to have the complaint resolved by the insurer who entered into the contract of insurance to which the complaint relates.

After "trustee", insert ", RSA provider, insurer or other decision maker".

Omit "or insurer" (wherever occurring), substitute ", insurer or RSA provider".

Omit "or 15B", substitute ", 15B, 15E, 15F, 15H or 15J".

Repeal the subsections, substitute:

(2)

Subject to subsection (4), if, in relation to a complaint under section 14, 14A, 15E, 15F, 15H, or 15J, a relevant person (as determined under subsection (3)) is notified under section 17A that the person has been joined as a party to the complaint under section 18, the person must, within 28 days after receiving notice of the joinder, or such longer period as the Tribunal allows, give to the Tribunal a copy of all documents or parts of documents:

(a)

that are in the possession, or under the control, of the person; and

(b)

that are considered by the person to be relevant to the complaint.

(3)

The following table sets out the persons who are relevant persons for the purposes of subsection (2) in relation to particular complaints:

After "an insurer", insert ", the RSA provider".

After "trustee, insurer", insert ", RSA provider".

Omit "or 15B", substitute ", 15B, 15E, 15F, 15H or 15J".

After "insurer,", insert "RSA provider,".

Insert:

(2A)

If:

(a)

a complaint under section 15F has been made concerning a decision of an RSA provider; and

(b)

the decision concerns the payment of a death benefit;

the RSA provider must, within 28 days, or such longer period as the Tribunal allows, after the RSA provider receives a notice of the complaint under subsection 17(3), give written notice in accordance with subsection (3) to all persons (other than the complainant) whom the RSA provider believes may have an interest in the outcome of the complaint.

Penalty: Imprisonment for one year.

(2B)

If:

(a)

a complaint under section 15J has been made concerning a decision of an insurer; and

(b)

the decision concerns the payment of a death benefit;

the insurer must, within 28 days, or such longer period as the Tribunal allows, after the insurer receives a notice of the complaint under subsection 17(4), give written notice in accordance with subsection (3) to all persons (other than the complainant) whom the insurer believes may have an interest in the outcome of the complaint.

Penalty: Imprisonment for one year.

Omit "or (2)", substitute ", (2), (2A) or (2B)".

Omit "or insurer", wherever occurring, substitute ", insurer or RSA provider".

Omit "or 15B", substitute ", 15B, 15F, or 15J".

After "15A", insert ", 15E or 15H".

Insert:

(1B)

Subject to this section, making a complaint under section 15F to the Tribunal concerning a decision of an RSA provider in relation to an RSA does not affect the operation of the decision of the RSA provider or, if an insurer or other decision-maker is joined as a party to the complaint, of a decision of the insurer or other decision-maker, or prevent the taking of action to implement any such decision.

(1C)

Subject to this section, making a complaint under section 15J to the Tribunal concerning a decision of an insurer in relation to a contract of insurance entered in connection with an RSA does not affect the operation of the decision of the insurer or, if an RSA provider or other decision-maker is joined as a party to the complaint, of a decision of the RSA provider or other decision-maker, or prevent the taking of action to implement any such decision.

Insert:

(2B)

The Tribunal may, on a request being made by a person making a complaint under section 15F concerning a decision of an RSA provider in relation to an RSA, if it thinks it is desirable to do so after taking into account the interests of any persons who may be affected by the request, make an order or orders staying or otherwise affecting the operation or implementation of the whole or part of a decision of the RSA provider or, if appropriate, of an insurer or other decision-maker whose decision is relevant to the subject matter of the complaint.

(2C)

The Tribunal may, on a request being made by a person making a complaint under section 15J concerning a decision of an insurer in relation to a contract of insurance entered in connection with an RSA, if it thinks it is desirable to do so after taking into account the interests of any persons who may be affected by the request, make an order or orders staying or otherwise affecting the operation or implementation of the whole or part of a decision of the insurer, or if appropriate, of an RSA provider or other decision-maker whose decision is relevant to the subject matter of the complaint.

Omit "or (2A)", substitute ", (2A), (2B) or (2C)".

Omit "or (2A)" (wherever occurring), substitute ", (2A), (2B) or (2C)".

Omit "or (2A)", substitute ", (2A), (2B) or (2C)".

Repeal the paragraph, substitute:

(b)

is to act as speedily as proper consideration of the review allows, having regard to:

(i)

the objectives laid down by section 11; and

(ii)

if the complaint relates to a fund—the interests of all the members of the fund; and

Omit "insurer that", substitute "insurer, that".

Omit "be or", substitute "be, or".

Insert:

(1)

For the purpose of reviewing the conduct of an RSA provider, or of a representative of an RSA provider, that is the subject of a complaint under section 15E concerning the opening of an RSA:

(a)

the Tribunal has all the powers, obligations and discretions that are conferred on the RSA provider; and

(b)

subject to subsection (4), must make a determination in accordance with subsection (3).

(2)

If an insurer has been joined as a party to a complaint under section 15E:

(a)

the Tribunal must, when reviewing the RSA provider's conduct, also review any conduct of the insurer that is relevant to the complaint; and

(b)

for that purpose, has all the powers, obligations and discretions that are conferred on the insurer; and

(c)

must make a determination in accordance with subsection (5).

(3)

On reviewing the conduct of an RSA provider, or a representative of an RSA provider, that is the subject of a complaint under section 15E, the Tribunal must make a determination in writing, so far as concerns the RSA to which the complaint relates, either:

(a)

doing all or any of the following:

(i)

setting aside the whole or a part of the terms and conditions of the RSA in their application to the complainant;

(ii)

varying the terms and conditions of the RSA in their application to the complainant;

(iii)

requiring any party to the RSA to repay all money or particular money received under the RSA;

(iv)

requiring any party to the RSA to pay any additional interest, worked out in a manner prescribed in the regulations; or

(b)

declaring that, in all the circumstances of the case, action of a kind referred to in paragraph (a) is not appropriate.

(4)

The Tribunal must not make a determination under subsection (3) to take action of a kind referred to in paragraph (3)(a) in respect of a complaint under section 15E concerning the conduct of an RSA provider, or of a representative of an RSA provider, if the Tribunal is of the view that the conduct of the RSA provider, or of the representative, was fair and reasonable in all the circumstances.

(5)

On reviewing the conduct of an insurer, or a representative of an insurer, that has been joined as a party to a complaint under section 15E, the Tribunal must make a determination in writing, so far as concerns the contract of insurance to which the complaint relates, either:

(a)

doing all or any of the following:

(i)

setting aside the whole or a part of the terms and conditions of the contract of insurance in their application to the complainant;

(ii)

varying the terms and conditions of the contract of insurance in their application to the complainant;

(iii)

requiring any party to the contract of insurance to repay all money or particular money received under the contract;

(iv)

requiring any party to the contract of insurance to pay any additional interest, worked out in a manner prescribed in the regulations; or

(b)

declaring that, in all the circumstances of the case, action of a kind referred to in paragraph (a) is not appropriate.

(6)

The Tribunal may only exercise its determination-making power under paragraph (3)(a) or (5)(a) for the purpose of placing the complainant as nearly as practicable in such a position that the unfairness, unreasonableness or both, that the Tribunal has determined to exist in relation to the conduct that is the subject of the complaint, no longer exists.

(1)

For the purpose of reviewing the decision of an RSA provider in relation to an RSA where that decision is the subject of a complaint under section 15F:

(a)

the Tribunal has all of the powers, obligations and discretions that are conferred on the RSA provider; and

(b)

subject to subsection (6), must make a determination in accordance with subsection (3).

(2)

If an insurer or other person has been joined as a party to a complaint under section 15F:

(a)

the Tribunal must, when reviewing the RSA provider's decision, also review any decision of the insurer or other person that is relevant to the complaint; and

(b)

for that purpose, has all the powers, obligations and discretions that are conferred on the insurer or other person; and

(c)

subject to subsection (6), must make a determination in accordance with subsection (3).

(3)

On reviewing a decision of an RSA provider, insurer or other person that is the subject of, or relevant to, a complaint under section 15F, the Tribunal must make a determination in writing:

(a)

affirming the decision; or

(b)

remitting the matter to which the decision relates to the RSA provider, insurer or other person for reconsideration in accordance with the directions of the Tribunal; or

(c)

varying the decision; or

(d)

setting aside the decision and substituting a decision for the decision so set aside.

(4)

The Tribunal may only exercise its determination-making power under subsection (3) for the purpose of placing the complainant as nearly as practicable in such a position that the unfairness, unreasonableness or both, that the Tribunal has determined to exist in relation to the RSA provider's decision that is the subject of the complaint, no longer exists.

(5)

The Tribunal must not do anything under subsection (3) that would be contrary to law or to the terms and conditions of the RSA or the contract of insurance.

(6)

The Tribunal must affirm a decision referred to in subsection (3) if it satisfied that the decision, in its operation in relation to:

(a)

the complainant; and

(b)

so far as concerns a complaint regarding a payment of a death benefit—any person (other than the complainant or RSA provider) who:

(i)

has become party to the complaint; and

(ii)

has an interest in the death benefit or claims to be entitled to benefits through a person having an interest in the death benefit;

was fair and reasonable in all the circumstances.

(1)

For the purpose of reviewing the conduct of an insurer, or of a representative of an insurer, that is the subject of a complaint under section 15H concerning the entry into a contract of insurance in connection with an RSA:

(a)

the Tribunal has all the powers, obligations and discretions that are conferred on the insurer; and

(b)

subject to subsection (4), must make a determination in accordance with subsection (3).

(2)

If an RSA provider has been joined as a party to a complaint under section 15H:

(a)

the Tribunal must, when reviewing the insurer's conduct, also review any conduct of the RSA provider that is relevant to the complaint; and

(b)

for that purpose, has all the powers, obligations and discretions that are conferred on the RSA provider; and

(c)

must make a determination in accordance with subsection (5).

(3)

On reviewing the conduct of an insurer, or a representative of an insurer, that is the subject of a complaint under section 15H, the Tribunal must make a determination in writing, so far as concerns the contract of insurance to which the complaint relates, either:

(a)

doing all or any of the following:

(i)

setting aside the whole or a part of the terms and conditions of the contract of insurance in their application to the complainant;

(ii)

varying the terms and conditions of the contract of insurance in their application to the complainant;

(iii)

requiring any party to the contract of insurance to repay all money or particular money received under the contract;

(iv)

requiring any party to the contract of insurance to pay any additional interest, worked out in a manner prescribed in the regulations; or

(b)

declaring that, in all the circumstances of the case, action of a kind referred to in paragraph (a) is not appropriate.

(4)

The Tribunal must not make a determination under subsection (3) to take action of a kind referred to in paragraph (3)(a) in respect of a complaint under section 15H concerning the conduct of an insurer, or of a representative of an insurer, if the Tribunal is of the view that the conduct of the insurer, or of the representative, was fair and reasonable in all the circumstances.

(5)

On reviewing the conduct of an RSA provider, or a representative of an RSA provider, that is joined as a party to a complaint under section 15H, the Tribunal must make a determination in writing, so far as concerns the RSA to which the complaint relates, either:

(a)

doing all or any of the following:

(i)

setting aside the whole or a part of the terms and conditions of the RSA in their application to the complainant;

(ii)

varying the terms and conditions of the RSA in their application to the complainant;

(iii)

requiring any party to the RSA to repay all money or particular money received under the RSA;

(iv)

requiring any party to the RSA to pay any additional interest, worked out in a manner prescribed in the regulations; or

(b)

declaring that, in all the circumstances of the case, action of a kind referred to in paragraph (a) is not appropriate.

(6)

The Tribunal may only exercise its determination-making power under paragraph (3)(a) or (5)(a) for the purpose of placing the complainant as nearly as practicable in such a position that the unfairness, unreasonableness or both, that the Tribunal has determined to exist in relation to the conduct that is the subject of the complaint, no longer exists.

(1)

For the purpose of reviewing the decision of an insurer in relation to a contract of insurance entered in connection with an RSA where that decision is the subject of a complaint under section 15J:

(a)

the Tribunal has all of the powers, obligations and discretions that are conferred on the insurer; and

(b)

subject to subsection (6), must make a determination in accordance with subsection (3).

(2)

If an RSA provider or another person has been joined as a party to a complaint under section 15J:

(a)

the Tribunal must, when reviewing the insurer's decision, also review any decision of the RSA provider or other person that is relevant to the complaint; and

(b)

for that purpose, has all the powers, obligations and discretions that are conferred on the RSA provider or other person; and

(c)

subject to subsection (6), must make a determination in accordance with subsection (3).

(3)

On reviewing a decision of an insurer, RSA provider or other person that is the subject of, or relevant to, a complaint under section 15J, the Tribunal must make a determination in writing:

(a)

affirming the decision; or

(b)

remitting the matter to which the decision relates to the insurer, RSA provider or other person for reconsideration in accordance with the directions of the Tribunal; or

(c)

varying the decision; or

(d)

setting aside the decision and substituting a decision for the decision so set aside.

(4)

The Tribunal may only exercise its determination-making power under subsection (3) for the purpose of placing the complainant as nearly as practicable in such a position that the unfairness, unreasonableness or both, that the Tribunal has determined to exist in relation to the insurer's decision that is the subject of the complaint, no longer exists.

(5)

The Tribunal must not do anything under subsection (3) that would be contrary to law or to the terms and conditions of the contract of insurance or the RSA.

(6)

The Tribunal must affirm a decision referred to in subsection (3) if it is satisfied that the decision, in its operation in relation to:

(a)

the complainant; and

(b)

so far as concerns a complaint regarding a payment of a death benefit—any person (other than the complainant or insurer) who:

(i)

has become party to the complaint; and

(ii)

has an interest in the death benefit or claims to be entitled to benefits through a person having an interest in the death benefit;

was fair and reasonable in all the circumstances.

After "insurer" (wherever occurring), insert ", RSA provider".

Insert:

(2A)

If the determination was made as a result of a section 15E or 15F complaint, the Tribunal may direct the RSA provider to inform, if the Tribunal's determination was in relation to a particular holder of an RSA—all or any of the other holders of RSAs provided by the RSA provider of the Tribunal's determination.

(2B)

If the determination was made as a result of a section 15H or 15J complaint, the Tribunal may direct the insurer to inform, if the Tribunal's determination was in relation to a particular holder of an RSA—all or any of the other parties to contracts of insurance entered into with the insurer in connection with the provision of RSAs of the Tribunal's determination.

After "trustee", insert ", RSA provider".

Omit "or 15A", substitute ", 15A, 15E or 15H".

Omit "of implementation", substitute "or implementation".

After "15B", insert ", 15F or 15J".

After "insurer's", insert " or RSA provider's".

Add:

(iii)

a director or employee of an RSA provider; or

(iv)

a director or employee of an insurer; or

After "(3)(c)", insert ", (3A)(c), (3A)(d), (3A)(e), (3B)(c), (3B)(d) or (3B)(e)".

After "(2A),", insert "(2B), (2C),".

Insert:

If, in connection with a complaint made to the Tribunal under this Act, a Tribunal member becomes aware of a breach in the terms and conditions relating to an annuity policy, a life policy or an RSA, he or she must, as soon as practicable:

(a)

if he or she is a Tribunal member other than the Tribunal Chairperson—give particulars of the breach to the Tribunal Chairperson; or

(b)

if he or she is the Tribunal Chairperson—give particulars of the breach to the Commissioner.