227Registration of policies

#### 227 Registration of policies (1) A life company must register each policy issued by the company in Australia: (a) in the register for the State or Territory in which the policy owner lives; or (b) if there is no such register or the policy owner has requested that the policy be registered in some other register—in the register chosen by the policy owner. (2) A life company must register each policy issued by the company outside Australia in a register for policies issued outside Australia. (3) The owner of a policy issued in Australia may, in writing, ask the company that issued the policy to transfer the policy from a register to another register. (4) The company must comply with a request under subsection (3). (5) A policy may be transferred: (a) from a register for policies issued outside Australia to any other register; or (b) to a register for policies issued outside Australia from any other register: if the policy owner makes a written request for the transfer and the life company concerned agrees to the transfer. (6) The owner of a policy is liable to pay to a life company an amount equal to the total of the expenses incurred by the company in connection with a transfer of the policy under subsection (3) or (4).