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Life Insurance Act 1995
46Restriction on restructure or termination of statutory funds
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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.