Asteron Life & Superannuation Limited, in the Matter of Asteron Life & Superannuation Limited (No 2) [2021] FCA 880

Asteron Life & Superannuation Limited, in the Matter of Asteron Life & Superannuation Limited (No 2) [2021] FCA 880

Because COVID-19 public health restrictions made it impossible, while restrictions were in place, to comply with the condition requiring scheme documents to be available for public inspection in each capital city, and the evidence and submissions established the need for the variations, Order 2 of the June Orders should be varied and additional notification requirements imposed.

Jurisdiction
Australia
Judgment Date
29 July 2021
Procedural Posture
Application for Transfer of Life Insurance Business and Application for Variation of Dispensation Orders Due to COVID 19 Restrictions / Interlocutory Application to Vary Orders Made on 25 June 2021 Before Confirmation Hearing
Outcome
Application granted; Order 2 of the June Orders varied and applicants ordered to pay APRA's costs as agreed or assessed.
Legal Topics
['transfer of Life Insurance Business' 'variation of Dispensation Orders' 'life Insurance Act 1995 (cth) S 191' 'covid 19 Public Health Orders' 'public Inspection of Scheme Documents']
['insurance'] ['transfer of Life Insurance Business' 'variation of Dispensation Orders' 'life Insurance Act 1995 (cth) S 191' 'covid 19 Public Health Orders' 'public Inspection of Scheme Documents']

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Procedural Posture

Application for Transfer of Life Insurance Business and Application for Variation of Dispensation Orders Due to COVID 19 Restrictions / Interlocutory Application to Vary Orders Made on 25 June 2021 Before Confirmation Hearing

Legal Issues

  1. 1 ['Whether Order 2 of the orders made on 25 June 2021 should be varied because COVID-19 public health orders made compliance with the requirement that scheme documents be available for public inspection in each capital city impracticable or impossible.' "Whether additional notification should be published on the applicants' websites and social media channels about closure of public inspection locations and alternative access to scheme documents."]

Ratio Decidendi

Because COVID-19 public health restrictions made it impossible, while restrictions were in place, to comply with the condition requiring scheme documents to be available for public inspection in each capital city, and the evidence and submissions established the need for the variations, Order 2 of the June Orders should be varied and additional notification requirements imposed.

Court Disposition

Application granted; Order 2 of the June Orders varied and applicants ordered to pay APRA's costs as agreed or assessed.

Orders

  • ['Order 2 of the orders made on 25 June 2021 (June Orders) be varied nunc pro tunc by adding the following words to Order 2(n): "…except insofar as this is rendered impracticable because any such location is situated in an area affected by a public health order made in response to the COVID-19 pandemic (COVID-19...