CTHIn ForceAct
Life Insurance Act 1995
46Restriction on restructure or termination of statutory funds
Start here
Get a plain-English read of 46
Turn the raw legal text into a practical explanation grounded in Life Insurance Act 1995.
#### 46 Restriction on restructure or termination of statutory funds
(1) A life company must not:
(a) change the statutory fund or funds to which a policy is referable; or
(b) terminate a statutory fund;
except in accordance with:
(c) subsection 35(4) and section 55; or
(d) Division 3.
(2) Subsection (1) does not prevent a liquidator doing anything authorised or required by or under this Act or any other law of the Commonwealth or of a State or Territory.