LIFE INSURANCE REGULATIONS (AMENDMENT) 1995 NO. 431 

LIFE INSURANCE REGULATIONS (AMENDMENT) 1995 NO. 431 
- TABLE OF PROVISIONS

1.  Commencement  
2.  Amendment  
3.  New regulation 4.01A  


1995 No. 431 LIFE INSURANCE REGULATIONS (AMENDMENT)
- REG 1
1. Commencement


  1.1 These Regulations commence on 1 January 1996.


1995 No. 431 LIFE INSURANCE REGULATIONS (AMENDMENT)
- REG 2
2. Amendment


  2.1 The Life Insurance Regulations are amended as set out in these
Regulations.


1995 No. 431 LIFE INSURANCE REGULATIONS (AMENDMENT)
- REG 3
3. New regulation 4.01A


  3.1 After regulation 4.01, insert:
Prohibited investments
  "4.01A. For the purposes of paragraph 43 (3) (d) of the Act, an investment
of assets of a statutory fund of a life company in a subsidiary of that life
company is prohibited if:
  (a) the assets of the company (other than assets that are the assets of a
statutory fund) that are invested in that subsidiary exceed the total of:
    (i) the assets of the statutory fund that are invested in that
subsidiary; and
    (ii) the assets of any other statutory funds of the company that
are invested in that subsidiary; or
  (b) the assets of the statutory fund that are invested in that subsidiary
are re-invested, whether directly or indirectly, through 1 or more interposed
bodies corporate, trusts or partnerships, with a company that is related to
the company (other than as a subsidiary).".


- NOTES


1995 No. 431*1* LIFE INSURANCE REGULATIONS*2* (AMENDMENT)

- Dated 20 December 1995


*1* Notified in the Commonwealth of Australia Gazette on 22 December 1995.
*2* Statutory Rules 1995 No. 141 as amended by 1995 No. 317.