{"id":"F2007L04608","name":"Life Insurance (prudential rules) determination No. 1 of 2007 - Prudential Rules 23 Reinsurance Reports; Prudential Rules 24 Reinsurance Contracts Needing Approval","slug":"life-insurance-prudential-rules-determination-no-1-of-2007-prudential-rules-23-reinsurance-reports-p","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":70859,"registerId":"commonwealth-F2007L04608-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Life Insurance (prudential rules) determination No. 1 of 2007 - Prudential Rules 23 Reinsurance Reports; Prudential Rules 24 Reinsurance Contracts Needing Approval","content":"![](image.001.png)\n\nLife Insurance (prudential rules) determination No.1 of 2007\n\nPrudential Rules 23 Reinsurance Reports\n\nPrudential Rules 24 Reinsurance Contracts Needing Approval\n\nLife Insurance Act 1995\n\nI, John Roy Trowbridge, Member of APRA, delegate of APRA, under subsection 252(4) of the Life Insurance Act 1995, REVOKE the following prudential rules:\n\n-   Prudential Rules 23 Reinsurance Reports; and\n-   Prudential Rules 24 Reinsurance Contracts Needing Approval.\n\nThis determination takes effect on the later of 1 January 2008 and the date of registration on the Federal Register of Legislative Instruments.\n\n    Dated 30 November 2007\n\n  \n\\[Signed\\]\n\nJohn Trowbridge\n\nMember\n\nInterpretation\n\nIn this instrument:\n\n> APRA means the Australian Prudential Regulation Authority.\n\nFederal Register of Legislative Instruments means the register established under section 20 of the Legislative Instruments Act 2003.","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1998},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This determination performs exactly the function stated in its title and preamble: it revokes the two specified prudential rules. There is no expansion of scope beyond this straightforward housekeeping measure."},"complexity_factors":["Very short instrument (single operative provision)","Only two defined terms in the interpretation section","Straightforward revocation with no conditional exceptions","Simple commencement provision (later of two dates)"],"plain_english_summary":"**What this does:** This instrument **cancels two old regulatory rules** that applied to life insurance companies.\n\nSpecifically, it revokes:\n* **Prudential Rule 23** — which required insurers to file reports about their reinsurance (insurance-for-insurers) arrangements; and\n* **Prudential Rule 24** — which forced insurers to get approval from APRA (the Australian Prudential Regulation Authority) before signing certain reinsurance contracts.\n\n**Who it affects:** Life insurance companies regulated under the *Life Insurance Act 1995*.\n\n**Why it matters:** It removes red tape and reporting burdens. The rules were likely scrapped because they became outdated or were replaced by broader prudential standards. The determination was set to take effect on the later of 1 January 2008 or the date it was registered on the Federal Register of Legislative Instruments."}},"importantCases":[],"_links":{"self":"/api/acts/life-insurance-prudential-rules-determination-no-1-of-2007-prudential-rules-23-reinsurance-reports-p","history":"/api/acts/life-insurance-prudential-rules-determination-no-1-of-2007-prudential-rules-23-reinsurance-reports-p/history","analysis":"/api/acts/life-insurance-prudential-rules-determination-no-1-of-2007-prudential-rules-23-reinsurance-reports-p/analysis","conflicts":"/api/acts/life-insurance-prudential-rules-determination-no-1-of-2007-prudential-rules-23-reinsurance-reports-p/conflicts","importantCases":"/api/acts/life-insurance-prudential-rules-determination-no-1-of-2007-prudential-rules-23-reinsurance-reports-p/important-cases","documents":"/api/acts/life-insurance-prudential-rules-determination-no-1-of-2007-prudential-rules-23-reinsurance-reports-p/documents"}}