Commonwealth Numbered Acts

LIFE INSURANCE AMENDMENT ACT 1977 No. 32 of 1977 - SECT 17

17. (1) Section 52 of the Principal Act is amended-

   (a)  by omitting from paragraph (a) of sub-section (2) the word ''six'' and
substituting the word ''five'';

(b) by omitting from paragraph (b) of sub-section (2) the word ''nine'' and
substituting the word ''six''; and

   (c)  by inserting after sub-section (2) the following sub-section:-

''(2A) Where a company has lodged with the Commissioner an abstract of a
report prepared under section 48, the Commissioner may, by notice served on
the company, direct the company to lodge with him, within such time as is
specified in the notice, a copy of the report.''.

(2) Section 52 of the Principal Act is amended by omitting sub- sections (4)
and (5).

(3) The amendment of paragraph 52 (2) (a) of the Principal Act effected by
sub-section (1) does not apply to or in relation to a financial year of a
company that ended before the commencement of this section.

(4) The amendment of paragraph 52 (2) (b) of the Principal Act effected by
sub-section (1) does not apply to or in relation to any investigation that
commenced before the commencement of this section.