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"Dead people paying for service and Life Insurance Premiums". Thus saith the RC!
Well premiums must be paid continually until someone notifies the product supplier that a death has occurred!. Similarly, an adviser must be notified if a death has occurred. In this current modern age oldies are so old when they die that very often NO DEATH NOTICE is posted in the Sydney Morning Herald. Therefore advisers who regularly check for deaths of clients every day have to wait until someone thinks to notify them and the product supplier. And the adviser and product supplier have a duty to wait for the death Certificate!!!! Otherwise it might be a fraudulent or mischievous notification!!
Get with it Commissioner and your eminent assistant QCs and SCs. It is a practical World out there!
Having observed the overnight expert SCs and QCs Assisting fiercely question relentlessly from copious written briefs prepared by some bevy of assistants, it is no wonder that McMaster collapsed and others had to plead ignorant or refer to their counsel. But it is inexcusable that those Assisting did not think more deeply about the practical everyday issues we all deal within in a conscientious manner.