Document ID: chunk:federal_register_of_legislation:C2004A03764:body:0:p11
Version: federal_register_of_legislation:C2004A03764
Segment Type: other
Provision Reference: 
Character Range: 26236–28958

or other record of information or any accounts or accounting records, however compiled, retrieved or stored, and also includes any document;
     'minor' means a person who has not attained the age of 18 years;".
(2) Section 4 of the Principal Act is amended by inserting in subsection (1) the following definition:
     " 'appointed actuary' means a person appointed in accordance with section 47a;".

Actuaries
23. Section 4a of the Principal Act is amended by omitting subsection (1) and substituting the following subsection:
"(1) A reference in this Act to an actuary shall, unless the contrary intention appears, be read as a reference to:
     (a) an appointed actuary; or
     (b) a person who is ordinarily resident in Australia and:

         (i) is a Fellow of the Institute of Actuaries of Australia; or
         (ii) is a person in respect of whom there is in force an approval by the Commissioner under subsection (3).".

Annual report and returns
24. (1) Section 11 of the Principal Act is amended by omitting from subsection (1) "within 5 months after 31 December in each year" and substituting "within 3 months after each year ending on 30 June".
(2) The report and printed copies or summaries for the year ending on 30 June 1989 shall deal also with the period from 1 January 1988 to 30 June 1988.

Repeal of section 13
25. (1) Section 13 of the Principal Act is repealed.
(2) Notwithstanding the repeal of section 13 of the Principal Act effected by subsection (1) of this section, where the parties to a policy have agreed, before the commencement of this section, to submit a dispute or difference to the Commissioner, that section of that Act continues to apply in relation to that policy as if that repeal had not been effected.

Application for registration
26. (1) Section 17 of the Principal Act is amended:
     (a) by omitting from paragraph (2) (c) "actuary (if any)" and substituting "appointed actuary";
     (b) by omitting from paragraph (2) (e) "in the case of a foreign company,";
     (c) by omitting "and" from the end of paragraph (2) (e); and
     (d) by adding at the end of subsection (2) the following paragraphs:
        "(g) the statutory funds established, or to be established, by the company; and
         (h) such other information (if any) as is prescribed.".
(2) The amendments made by a paragraph of subsection (1) apply in relation to applications made after the commencement of the paragraph concerned.

27. After section 21 of the Principal Act the following section is inserted:

Company not to be registered unless it has an appointed actuary
"21a. A company shall not be registered unless it has an appointed actuary.".

Investment of statutory funds
28. Section 39