Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For the purposes of paragraph 191 (2) (b) of the Act, an applicant to the Court for confirmation of a scheme must publish a notice of intention to make the application, in a form approved by APRA:
(a) in the Gazette ; and
(b) in one or more newspapers, approved by APRA, circulating in each State and Territory in which there is a register of life policies that includes the relevant policy of an affected policy owner.
(2) A notice under subregulation (1) must:
(a) state that an affected policy owner may get a copy of the scheme from the place, within the times, and for the period, set out in subregulation (4); and
(b) give the address of each place at which a copy of the scheme may be obtained.
(3) The notice must be published before the scheme is released for public inspection under subregulation (4).
(4) A copy of the scheme must be open for public inspection from 9.00 a.m. until 5.00 p.m. every day (except weekends and public holidays), for a period of at least 15 days, at:
(a) an office of the applicant; or
(b) another location approved, in writing, by APRA;
in each State and Territory in which there is a register of life policies that includes the relevant policy of an affected policy owner:
Note 1 A life company must have a register of life policies for each State and Territory in which it carries on life insurance business: subsection 226 (1) of the Act.
Note 2 An affected policy owner is the owner of a policy that is referable to a statutory fund affected by a scheme: subsection 191 (1) of the Act. However, for a jointly regulated friendly society an affected policy owner is the owner of a policy that is referable to a health benefits fund or approved benefit fund affected by a scheme: see Sch 6, item 40.