CTHRepealedLegislation
Life Insurance (prudential standard) determination No. 12 of 2010 - Prudential Standard LPS 700 Friendly Society Benefit Funds
Effect of restructureEffect of restructure
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Effect of restructure
- Upon a restructure of benefit funds of a friendly society having effect:
(a) a member of a transferring fund who is in a category specified in documents provided to APRA under paragraph 53(b) becomes a member of a receiving fund; and
(b) the assets and undertakings of, and liabilities referable to, the transferring fund become, to the extent specified in documents provided to APRA under paragraph 53(b), assets and undertakings of, and liabilities referable to, a receiving fund.