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

34   Application of amendments

(1) The amendments of subsection 76A(3) of the Life Insurance Act 1995 made by this Part apply in relation to:

(a) a company becoming registered under that Act on or after the commencement of this item; or

(b) a company becoming registered under that Act within 28 days before that commencement, if the company did not notify APRA, before that commencement, of the address where the company's records mentioned in subsection 76A(1) of that Act are kept.

(2) For the purposes of subsection 76A(3) of that Act, as amended by this Part, a written notification given:

(a) during the 2 months starting on the commencement of this item; and

(b) in the form that, immediately before that commencement, was the approved form for the purposes of that subsection;

is taken to be a notice given in accordance with section 8A of that Act.

(3) The amendments of subsections 76A(4) and (5) of the Life Insurance Act 1995 made by this Part apply in relation to:

(a) a company beginning to keep the company's records mentioned in subsection 76A(1) of that Act at a new address on or after the commencement of this item; or

(b) a company beginning to keep such records at a new address within 28 days before that commencement, if the company did not notify APRA of the new address before that commencement.

(4) For the purposes of subsection 76A(4) of that Act, as amended by this Part, a written notification given:

(a) during the 2 months starting on the commencement of this item; and

(b) in the form that, immediately before that commencement, was the approved form for the purposes of that subsection;

is taken to be a notice given in accordance with section 8A of that Act.