Superannuation (Resolution of Complaints) Act 1993 (Repealed)

PART 6 - REVIEW OF DECISIONS OR CONDUCT COMPLAINED OF  

Division 3 - The review meeting  

SECTION 37B   TRIBUNAL POWERS - COMPLAINTS UNDER SECTION 15A  

37B(1)   [Tribunal's powers when reviewing conduct of insurer]  

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 15A concerning the sale of an annuity policy:

(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 (2).

37B(2)   [Tribunal's determination]  

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

(a) doing all or any of the following:

(i) setting aside the whole or a part of the policy in its application to the complainant;

(ii) varying the terms of the policy in their application to the complainant;

(iii) requiring any party to the policy to repay all money or particular money received under the policy together with 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.

37B(3)   [Extent of determination]  

The Tribunal may only exercise its determination-making power under subsection (2) 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 of the insurer, or of a representative of the insurer that is the subject of the complaint no longer exists.

37B(4)   [No determination if insurer's conduct fair and reasonable]  

The Tribunal must not make a determination under subsection (2) to take action of a kind referred to in paragraph (2)(a) in respect of a complaint under section 15A 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 insurer's representative, was fair and reasonable in all the circumstances.