Commonwealth Numbered Regulations

1983 No. 240 LIFE INSURANCE REGULATIONS (AMENDMENT) - REG 3

3. After regulation 25 of the Life Insurance Regulations the following
regulations are inserted: Payment of policy moneys without requiring
production of probate, &c.

"26. For the purposes of section 103 of the Act, the amount of $10,000 is
prescribed. Policies to which section 103A does not apply

"26A. For the purposes of section 103A of the Act, the amount of $5,000 is
prescribed. Payment on death of children

"26B. (1) For the purposes of the definition of 'prescribed amount' in section
108 of the Act, the amount of $1,000 is applicable.

"(2) For the purposes of the definition of 'repayment of premiums' in section
108 of the Act, the rate of 12 per cent per annum is prescribed. Where no need
to advertise issue of special policy

"26C. For the purposes of section 119 of the Act, the amount of $5,000 is
prescribed.".