Regulation 4

For the purposes of section 132(2) of the Act, a policy owner of a relevant policy shall make a nomination under section 132(2) of the Act, and indicate each nominee’s portion of the policy moneys, by completing Form 1 and lodging it with the licensed insurer that issued the relevant policy.

For the purposes of section 132(7) of the Act, a policy owner of a relevant policy shall revoke a nomination under section 132(2) of the Act by completing Form 2 and lodging it with the licensed insurer that issued the relevant policy.

For the purposes of section 132(12) of the Act, a policy owner of a relevant policy shall appoint one or more trustees of the policy moneys, or revoke the appointment of any trustee so appointed, by completing Form 3 and lodging it with the licensed insurer that issued the relevant policy.

For the purposes of section 132(15) of the Act, a relevant policy shall vest in the trustee or trustees of the policy moneys appointed under section 132(12)(a) or (b) of the Act, or pursuant to a provision under section 132(12)(d)(i) of the Act, when the licensed insurer that issued the relevant policy has been given notice of the appointment by the lodgment with the licensed insurer of the duly completed Form 3 pursuant to which the trustee or trustees were so appointed.

For the purposes of section 132(15) of the Act, a relevant policy shall vest in the trustee or trustees of the policy moneys appointed under section 132(13) of the Act when the licensed insurer that issued the relevant policy has been given notice of the appointment by the lodgment with the licensed insurer of a certified copy of the order of the General Division of the High Court pursuant to which the trustee or trustees were so appointed.