Commonwealth Numbered Acts

LIFE INSURANCE POLICY HOLDERS' PROTECTION LEVIES COLLECTION ACT 1991 No. 3 of 1992 - SECT 27

27. (1) If:

   (a)  a grant has been paid to an eligible company; and

   (b)  a contingency or event is specified in the grant determination for the
        purposes of this section; and

   (c)  that contingency or event occurs; then, on the occurrence of that
        contingency or event, the company is liable to repay to the
        Commonwealth the amount of the payment.

(2) The contingencies or events that may be specified in the grant
determination include, but are not limited to, the satisfaction (in whole or
in part) of a debt, a chose in action or any other right.