Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If any part of the life insurance business carried on by a life company is transferred to, or amalgamated with the life insurance business of, another company, the latter company must, in accordance with subsections (2) and (3), give APRA such documents (if any) as are prescribed by regulations made for the purposes of this subsection in relation to the transfer or amalgamation.
(2) The documents must be given within the time fixed by the regulations or within such further time as APRA, in accordance with the regulations, allows.
(3) The documents are given in accordance with this subsection if:
(a) APRA has approved a manner for giving the documents under subsection (4), and the documents are given in the approved manner; or
(b) APRA has not approved a manner for giving the documents under subsection (4).
(4) For the purposes of paragraph (3)(a), APRA may, in
writing, approve a manner for giving the documents.