New South Wales Consolidated Acts

TRUSTEE ACT 1925 - SECT 97

97 Life assurance companies

(1) Where any money is payable by any life assurance company under a life policy in respect of which, in the opinion of the board of directors, no sufficient discharge can otherwise be obtained, the company may pay the money into court.

(2) Where in the opinion of the Court the payment in was made without reasonable grounds, the Court may order all costs occasioned thereby to be paid by the company.

(3) In this section
"life assurance company" means any corporation, company, or society carrying on the business of life assurance, not being a friendly society; and
"life policy" includes any policy not foreign to the business of life assurance.