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

45   After subsection 200(2)

Insert:

(2A) A memorandum of transfer referred to in paragraph (2)(a) is in accordance with this subsection if:

(a) the memorandum of transfer is in the form approved by ASIC under subsection (2B); and

(b) any other requirements set out in regulations made for the purposes of this paragraph in relation to the memorandum of transfer are satisfied.

(2B) For the purposes of paragraph (2A)(a), ASIC must approve, in writing, the form of a memorandum of transfer referred to in paragraph (2)(a).