Document ID: chunk:federal_register_of_legislation:F2018L00486:front:0:p3
Version: federal_register_of_legislation:F2018L00486
Segment Type: other
Provision Reference: 
Character Range: 5433–8367

state the places, dates and times that an affected policyholder may obtain a copy of the scheme and any associated documentation; and

(b)         give the address of each place at which a copy of the scheme and any associated documentation may be obtained.

    11.         The notice must be published before the scheme is released for public inspection under paragraph 16.

Approved Summary[8]
    12.         An application to the Court for confirmation of a scheme cannot be made unless, amongst other things, a summary of the scheme, approved by APRA (the approved summary), has been given to every affected policyholder.
    13.         The approved summary need not be a stand-alone document and the required information may be included in a document, sent directly to the policyholder, that contains other information in relation to the transfer, provided that the required information is prominently featured so that it is obvious to the policyholder.
    14.         The format and content of the approved summary will depend on the circumstances of the transfer, however, the insurer should, at a minimum, advise affected policyholders:
(a)          that the insurer proposes to transfer the policyholder's policy or policies to another insurer, on or after a specified date;

(b)         of the full name and contact details of the other insurer;

       (c)          of the effect of the transfer (this explanation may be brief and may, for example, explain that from the date of the transfer all rights and liabilities under the policies will be transferred to the other insurer, so that premiums will have to be paid to, and claims will have to be lodged with, that insurer);

       (d)          of any action the policyholder will need to take before or as a result of the transfer (for example, any changes in arrangements relating to paying premiums or lodging claims);

       (e)          if the policyholder does not need to take any action before or as a result of the transfer - advise the policyholder accordingly;

       (f)           how the policyholder can obtain further information and inspect relevant documents as may be available for public inspection; and

       (g)          that the policyholder has the right to attend the Federal Court.

    15.         The approved summary must be sent to affected policyholders before the scheme is released for public inspection under paragraph 16.

Public Inspection[9]
    16.         A copy of the scheme must be open for public inspection from 9.00 a.m. until 5.00 p.m. every day (except weekends and public holidays), for a period of at least 15 days, at:
(a)          an office of the insurer; or

(b)         another location approved by APRA in writing,

in each State and Territory in which an affected policyholder resides.

Application for Confirmation of Scheme[10]
    17.         An application to the Court for confirmation of a