Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An existing life company is taken, for the purposes of this or any other Act, to be registered under section 21.
(2) An existing life company that is incorporated outside Australia is taken, for the purposes of this Act, to be a company within the meaning of this Act.
(3) If, immediately before this Act commenced, an existing life company was subject to a condition imposed under section 20 of the Life Insurance Act 1945 , the condition has effect as if it were a condition imposed under section 22 of this Act.
(5) Section 26 of this Act applies to an existing life company as if the period of 12 months referred to in paragraph (1)(a) of that section began on the day on which the company was registered under the Life Insurance Act 1945 .
(7) The following provisions of this Act do not apply to an existing life company that is incorporated outside Australia:
(b) section 242;
(c) section 245.
(8) This Act does not apply in relation to life insurance business carried on outside Australia by an existing life company that is incorporated outside Australia.
264 Saving provision: sections 83, 84 and 94 of the Life Insurance Act 1945
In spite of section 6 of the Life Insurance (Consequential Amendments and Repeals) Act 1995 , sections 83, 84 and 94 of the Life Insurance Act 1945 , as in force immediately before the commencement of this Act, continue to apply to policies to which those sections applied immediately before the commencement of this Act as if the Life Insurance Act 1945 had not been repealed.