Commonwealth Numbered Acts

LIFE INSURANCE POLICY HOLDERS' PROTECTION LEVIES COLLECTION ACT 1991

TABLE OF PROVISIONS

           Long Title

   1.      Short title  
   2.      Commencement  
   3.      Object of Act  
   4.      Application of Life Insurance Act  
   5.      Interpretation  
   6.      Company's statutory accounts to be prima facie evidence of value of its assets  
   7.      Commissioner to notify Australian proportion of value of assets in statutory funds  
   8.      Non-leviable funds - eligible companies  
   9.      By whom levy payable  
   10.     When levy due for payment  
   11.     Penalty for non-payment of levy  
   12.     Recovery of levy and late payment penalty  
   13.     Levy may be paid out of statutory funds  
   14.     Manner of payment of levy etc.  
   15.     Life Insurance Policy Holders' Protection Fund  
   16.     Payments into Fund  
   17.     Purposes of Fund  
   18.     Separate notional accounts to be kept within Fund  
   19.     Transfer of equity in Fund  
   20.     Winding-up advances  
   21.     Winding-up of Fund  
   22.     Judicial manager or liquidator of eligible company may apply for grant of financial assistance from the Fund  
   23.     Grants of financial assistance from the Fund  
   24.     Conditions to which grant of financial assistance is subject  
   25.     Repayment of overpayments of grants  
   26.     Repayment of grant if conditions are contravened  
   27.     Repayment of grant if a specified contingency happens  
   28.     Remission of grant repayments  
   29.     Recovery of grant repayments  
   30.     Grant repayments may be paid out of statutory funds  
   31.     Manner in which grant repayments are to be made  
   32.     Priority of grant repayments  
   33.     Grants to be under the control of the judicial manager or liquidator  
   34.     Judicial manager or liquidator under the control of the Court  
   35.     Application of Division 8 of Part III of the Life Insurance Act  
   36.     Decision-making principles  
   37.     Review of decisions  
   38.     Only judicial manager/liquidator of an eligible company has standing to seek review of decisions affecting the eligible company  
   39.     Delegation  
   40.     Annual report  
   41.     Regulations  
   42.     Consequential amendments  
           SCHEDULE