Commonwealth Consolidated Acts

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LIFE INSURANCE ACT 1995 - SECT 36

Payments to statutory fund

    The following amounts must be credited by a life company to a statutory fund:

  (a)   premiums payable under policies referable solely to the fund;

  (b)   in the case of a policy that is referable to the fund and one or more other statutory funds, the proportion of the premium that, by virtue of a provision in the policy document, is to be credited to the fund;

  (c)   amounts paid to the company in relation to a liability under section   48 or 50 in relation to the fund;

  (d)   income from the investment of assets of the fund;

  (e)   money paid to or by the company under a judgment of a court relating to any matter concerning the business of the fund or any failure to comply with this Part   in relation to the fund;

  (f)   any other money received by the life company in connection with its conduct of the business of the fund.


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