Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 (76 of 2023)

Schedule 4   Insurance

Part 2   Forms of notices etc.

Life Insurance Act 1995

26   At the end of Part 1

Add:

8A Approved manner and form of applications and notices

(1) This section applies in relation to making an application or giving a notice if another provision of this Act refers to making the application or giving the notice in accordance with this section.

(2) The application is made, or the notice is given, in accordance with this section if the application or notice:

(a) is made or given:

(i) if APRA has approved a manner for making the application or giving the notice under subsection (3) - in the approved manner; or

(ii) otherwise - in writing; and

(b) if APRA has approved a form for making the application or giving the notice under subsection (3):

(i) is made or given in the approved form; and

(ii) includes the information required by the form; and

(iii) is accompanied by the documents (if any) required by the form; and

(c) includes the information (if any) prescribed by regulations made for the purposes of this paragraph in relation to the application or notice; and

(d) is accompanied by the documents (if any) prescribed by regulations made for the purposes of this paragraph in relation to the application or notice.

(3) For the purposes of paragraph (2)(a) or (b), APRA may, in writing, approve a manner or form for making the application or giving the notice.

(4) Without limiting subsection (3), a form approved under that subsection may be:

(a) the form of a statutory declaration; or

(b) a form that requires a matter to be verified by a statutory declaration.