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

32   Subsections 76A(3) to (5)

Repeal the subsections, substitute:

Notification of address where records are kept

(3) If a life company becomes registered under this Act, the company must give APRA notice, in accordance with section 8A and subsection (3A) of this section, of the address where the company's records mentioned in subsection (1) of this section are kept.

(3A) The notice under subsection (3) must be given within 28 days after the day on which the company becomes registered under this Act.

(4) If:

(a) a life company has given APRA notice under subsection (3) or this subsection; and

(b) the company begins to keep the company's records mentioned in subsection (1) at a new address; and

(c) the company is registered under this Act;

the company must give APRA notice, in accordance with section 8A and subsection (5) of this section, of the new address.

(5) The notice under subsection (4) must be given within 28 days after the day on which the company begins to keep the records at the new address.