37CTribunal powers—complaints under section 15B

#### 37C Tribunal powers—complaints under section 15B (1) For the purpose of reviewing the decision of an insurer under an annuity policy where that decision is the subject of a complaint under section 15B: (a) the Tribunal has all of the powers, obligations and discretions that are conferred on the insurer; and (b) subject to subsection (5), must make a determination in accordance with subsection (2). (2) On reviewing a decision of an insurer under an annuity policy that is subject to a complaint under section 15B, the Tribunal must make a determination in writing: (a) affirming the decision; or (b) remitting the matter to which the decision relates to the insurer for reconsideration in accordance with the directions of the Tribunal; or (c) varying the decision; or (d) setting aside the decision and substituting a decision for the decision so set aside. (3) The Tribunal may only exercise its determination‑making power under subsection (2) for the purpose of placing the complainant as nearly as practicable in such a position that the unfairness, unreasonableness, or both, that the Tribunal has determined to exist in relation to the conduct of the insurer, or of a representative of the insurer, that is the subject of the complaint no longer exists. (4) The Tribunal must not do anything under subsection (2) that would be contrary to law or to the provisions of the annuity policy. (5) The Tribunal must affirm a decision referred to in subsection (2) if it is satisfied that the decision, in its operation in relation to: (a) the complainant; and (b) so far as concerns a complaint regarding the payment of a death benefit—any person (other than the complainant, insurer or a trustee) who: (i) has become a party to the complaint; and (ii) has an interest in the death benefit or claims to be, or to be entitled to benefits through, a person having an interest in the death benefit; was fair and reasonable in all the circumstances.