US Free Trade Agreement Implementation Act 2004 (120 of 2004)

Schedule 4   Life insurance amendments

Life Insurance Act 1995

8   At the end of section 165

Add:

(3) To avoid doubt, if the life company is an eligible foreign life insurance company, paragraphs (1)(c) and (d) do not apply to the extent that the management of the company, or of the business, relates to life insurance business carried on outside Australia by the company (see section 16ZE).