Superannuation Industry (Supervision) Legislation Amendment Act 1995 (144 of 1995)

Schedule 2   AMENDMENT OF THE LIFE INSURANCE ACT 1995

1   After Division 3 of Part 7

Insert:

"Division 3A-Life companies required to comply with determinations of the Superannuation Complaints Tribunal Life companies must comply with determinations of the Superannuation Complaints Tribunal

"151A.(1) A life company must comply with any determination made in respect of it by the Superannuation Complaints Tribunal:

(a) as a result of it being joined under section 18 of the Superannuation (Resolution of Complaints) Act 1993 as a party to a complaint under section 14 of that Act against a trustee in respect of a decision relating to a death benefit or a disability benefit; or

(b) as a result of it being joined as a party to a complaint under section 14A of that Act; or

(c) as a result of it being a party to a complaint under section 15A or 15B of that Act.

"(2) In this section:

Superannuation Complaints Tribunal means the Superannuation Complaints Tribunal established under section 6 of the Superannuation (Resolution of Complaints) Act 1993.".