35Identification of policies referable to statutory fund

#### 35 Identification of policies referable to statutory fund (1) A policy document must specify the statutory fund or statutory funds to which the policy is referable. (2) A policy document must not make provision inconsistent with section 31. (3) A provision in a policy document that a policy is referable to 2 or more statutory funds is not effective unless it specifies: (a) the benefits under the policy that are to be provided out of each fund; and (b) either: (i) the proportion of the premium that is related to the benefits to be provided out of each fund and is to be credited to the fund; or (ii) the way in which that proportion is to be calculated. (4) Subsection (1) does not prevent a policy document being endorsed so as to change the statutory fund or funds to which the policy is referable. > Note: If the fund or funds to which a policy is referable is changed in this way, section 55 must be complied with. (5) If: (a) a policy was issued before the commencement of this Act; and (b) since that commencement, the company that issued the policy has given the policy owner written notice of the statutory fund or funds to which the policy is referable; this Act has effect as if the notice were part of the policy document relating to the policy.