14AComplaints about decisions of trustees to admit persons to life policy funds

#### 14A Complaints about decisions of trustees to admit persons to life policy funds (1) A person who has, or claims to have, an interest in a life policy fund, either as a member of the fund who is covered by a life policy maintained by the trustee or as a person claiming through such a member, may complain that the decision of the trustee to admit the member to the fund was unfair or unreasonable. > Note: Although a complaint is about the decision of a trustee, the Tribunal may join the insurer and any other person as well, as parties to the complaint (see subsection 18(2)). (2) For the purposes of subsection (1), the conduct of an insurer, or a representative of an insurer, in relation to dealings preliminary to the admission of a person as a member of a life policy fund is relevant to determining whether the trustee’s decision to admit the person as such a member was unfair or unreasonable. (3) A complaint under this section is to be made by sending or delivering a written complaint to the office of the Tribunal. (4) When a complaint is made under this section, the Tribunal must, in determining whether the decision of the trustee to admit a person to a life policy fund was fair and reasonable, have regard, in particular, to the question whether that decision involved: (a) undue influence or pressure on the person; or (b) material misrepresentation made to the person; in relation to becoming a member of the fund. (5) For the purposes of subsection (4), the Tribunal may take into account: (a) the age, physical and mental condition, educational attainments and financial means of the person admitted to the fund; and (b) the relative bargaining positions of the trustee and the person admitted to the fund or of any person acting for either of them; and (c) the insurance and personal superannuation needs of the person admitted to the fund and of any other person having, or claiming to have, an interest in the fund as known to, or reasonably ascertainable by, the trustee or any person acting for the trustee; and (d) the importance of ensuring that trustees act with fairness, openness and propriety in relation to invitations to become members of life policy funds and take reasonable steps to ensure that any persons acting for them also act with fairness, openness and propriety in relation to such matters; and (e) the objects of this Act; and (f) any other matter that the Tribunal considers relevant. (6) For the purposes of subsection (5), a reference to a person acting for the trustee of a life policy fund includes a reference to an insurer, or a representative of an insurer, when engaged in any dealings preliminary to the admission of a person as a member of the fund.