Document ID: chunk:federal_register_of_legislation:C2025C00135:section:13
Version: federal_register_of_legislation:C2025C00135
Segment Type: section
Provision Reference: s 13
Character Range: 45290–45894

13  Business of a statutory fund
 (1) A reference in this Act to the business of a statutory fund of a life company is a reference to the life insurance business to which the fund relates.
 (2) For the purposes of this Act:
 (a) a liability (including a policy liability) is taken to be referable to the business of a statutory fund if the liability is of a kind that, under Part 4, may be discharged out of the assets of the fund; and
 (b) an expense is taken to be referable to the business of a statutory fund if the expense is of a kind that, under Part 4, may be met out of the assets of the fund.