CTHRepealedLegislation
Life Insurance (prudential standard) determination No. 12 of 2010 - Prudential Standard LPS 700 Friendly Society Benefit Funds
When restructure has effectWhen restructure has effect
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When restructure has effect
- The restructure of benefit funds of a friendly society shall have effect when:
(a) benefit fund rules approved under section 16L of the Act come into force under section 16N of the Act to give effect to the restructure; and
(b) proposed amendments to the approved benefit fund rules of the friendly society under section 16Q of the Act to give effect to the restructure come into force under section 16T of the Act.
- A friendly society to which paragraph 60(a) applies must comply with paragraphs 61 to 63 as soon as practicable after a restructure has taken effect under paragraph 64.