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.
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