Insolvency Law Reform Act 2016 (11 of 2016)

Schedule 2   Amendments relating to the Insolvency Practice Schedule (Corporations)

Part 2   Amendments consequential on the introduction of the Insolvency Practice Schedule (Corporations)

Life Insurance Act 1995

286   After section 183A

Insert:

183B Application by APRA - voluntary winding up of friendly society

(1) This section applies to a friendly society that may be wound up voluntarily under subsection 180(2).

(2) APRA may apply to the Court:

(a) to determine any question arising in the winding up of the friendly society; or

(b) to exercise all or any of the powers that the Court might exercise if the friendly society were being wound up by the Court.

(3) The Court may make any orders on the application that it thinks fit.