Variation of life company registration conditions 2024 – ART Life Insurance Ltd

Life Insurance Act 1995

 

To: ART Life Insurance Ltd ABN 79 607 345 8531 (ART Life)

 

Since ART Life is registered under section 21 of the Act as a life company, I, Sean Carmody, a delegate of APRA, under paragraph 22(1)(b) of the Act, vary the conditions imposed on ART Life’s registration.

 

The conditions imposed on ART Life’s registration following this variation are set out in the Schedule.

 

This instrument commences on the day it is made. Dated: 30 August 2024

 

 

Sean Carmody Executive Director Insurance Division

 

 

Interpretation

In this instrument:

 

 

Act means the Life Insurance Act 1995.

APRA means the Australian Prudential Regulation Authority.

life company has the meaning given by the Act.

life insurance business has the meaning given by the Act.

 

 

 


 

1 Formerly QInsure Limited.

Schedule

  1.         ART Life may only carry on life insurance business for the purposes of providing benefits to members of Australian Retirement Trust ABN 60 905 115 063 (ART) in the event of the:

 

  1.   death of the member or the member being found to have a terminal illness;

 

  1.   injury to, or disability of the member as a result of accident or sickness; or

 

  1.   the member being found to have a stated condition or disease.

 

  1.         ART Life must not provide benefits to members of ART other than by way of issuing a policy to Australian Retirement Trust Pty Ltd ABN 88 010 720 840 as trustee of ART.

 

 

 

 

 

 

Notes

 

Note 1: A decision under subsection 22(1) is a reviewable decision. If you are dissatisfied with this decision, you may request APRA to reconsider it in accordance with section 236 of the Act. The request for reconsideration must be made in writing, must set out the reasons for making the request, and must be given to APRA within 21 days after the day on which you first received notice of this decision, or within such further period as APRA allows. If you are dissatisfied with the outcome of APRA’s reconsideration of the decision, you may, subject to the Administrative Review Tribunal Act 2024, apply to the Administrative Review Tribunal for review of the reconsidered decision.

 

Note 2: APRA is required to publish this notice in the Gazette.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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