Financial Sector Legislation Amendment (Prudential Refinements and Other Measures) Act 2010 (82 of 2010)

Schedule 3   Amendment of the Life Insurance Act 1995

Part 1   Amendments

31   Subsection 124(1)

Repeal the subsection, substitute:

(1) The owner of a policy issued by a life company is entitled to be provided by the company with a copy of a reporting document (within the meaning of theFinancial Sector (Collection of Data) Act 2001) relating to the company, or part of that document, if:

(a) a reporting standard determined under section 13 of that Act specifies that a copy of that document, or part of that document, is to be provided under this section on the request of an owner of the policy; and

(b) the owner of the policy requests a copy of that document or part of that document.

Note: The heading to section 124 is altered by omitting " annual financial statements and annual return " and substituting " reporting documents ".