Company Law Review Act 1998 (61 of 1998)

Schedule 5  

Life Insurance Act 1995

35   After section 233

Insert:

233A Transfer by life insurance company to statutory fund

This section authorises any share capital reduction that occurs because a life company appropriates or transfers an amount to a statutory fund established and maintained under this Act.

Note: Section 256B of the Corporations Law permits share capital reductions authorised by law to be carried out without shareholder approval.