{"id":"F2007L04671","name":"Life Insurance (Prudential Rules) determination No. 2 of 2007 - Prudential Rules No. 12 - Restricted Investments Returns; Prudential Rules No. 26 - Collection of Statistics; Prudential Rules No. 35 - Financial Statements; Prudential Rules No. 47 - Friendly Society Financial Statements; Prudential Rules No. 48 - Collection of Statistics - Friendly Societies; Prudential Rules No. 49 - Contract Classification for the purpose of regulatory reporting to APRA","slug":"life-insurance-prudential-rules-determination-no-2-of-2007-prudential-rules-no-12-restricted-investm","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":71053,"registerId":"commonwealth-F2007L04671-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Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Life Insurance (Prudential Rules) determination No. 2 of 2007 - Prudential Rules No. 12 - Restricted Investments Returns; Prudential Rules No. 26 - Collection of Statistics; Prudential Rules No. 35 - Financial Statements; Prudential Rules No. 47 - Friendly Society Financial Statements; Prudential Rules No. 48 - Collection of Statistics - Friendly Societies; Prudential Rules No. 49 - Contract Classification for the purpose of regulatory reporting to APRA","content":"![](image.001.png)\n\nLife Insurance (Prudential Rules) determination No.2 of 2007\n\nPrudential Rules No 12 – Restricted Investments Returns\n\nPrudential Rules No 26 – Collection of Statistics\n\nPrudential Rules No 35 – Financial Statements\n\nPrudential Rules No 47 – Friendly Society Financial Statements\n\nPrudential Rules No 48 – Collection of Statistics – Friendly Societies\n\nPrudential Rules No 49 – Contract Classification for the purpose of regulatory reporting to APRA\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 each of the following Prudential Rules:\n\n-   Prudential Rules No 12 – Restricted Investments Returns;\n-   Prudential Rules No 26 – Collection of Statistics;\n-   Prudential Rules No 35 – Financial Statements;\n-   Prudential Rules No 47 – Friendly Society Financial Statements;\n-   Prudential Rules No 48 – Collection of Statistics – Friendly Societies; and\n-   Prudential Rules No 49 - Contract Classification for the purpose of regulatory reporting to APRA.\n\n  \nThis determination takes effect on 1 January 2008.\n\nDated 6 December 2007\n\n\\[Signed\\]\n\nJohn Trowbridge\n\nMember\n\nInterpretation\n\nIn this determination:\n\n> APRA means the Australian Prudential Regulation Authority.","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2341},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"This determination performs a narrow, technical repeal of six specific prudential rules. It reduces rather than expands the regulatory framework, eliminating specific reporting requirements without extending APRA's supervisory scope beyond the existing limits of the Life Insurance Act 1995."},"complexity_factors":["Only 1 defined term ('APRA') in the interpretation section","Single operative provision consisting of a straightforward list of revocations","No conditional logic, exceptions, or transitional provisions","No cross-references to other complex legislation beyond the empowering provision (section 252(4) of the Life Insurance Act 1995)"],"plain_english_summary":"APRA revoked six legacy prudential reporting rules for life insurers and friendly societies, effective 1 January 2008. The determination removes certain outdated requirements on investment returns, statistics, financial statements and contract classification.\n\nThe change cleans up redundant regulation for affected entities, reducing obsolete reporting obligations that had been superseded by newer requirements."}},"importantCases":[],"_links":{"self":"/api/acts/life-insurance-prudential-rules-determination-no-2-of-2007-prudential-rules-no-12-restricted-investm","history":"/api/acts/life-insurance-prudential-rules-determination-no-2-of-2007-prudential-rules-no-12-restricted-investm/history","analysis":"/api/acts/life-insurance-prudential-rules-determination-no-2-of-2007-prudential-rules-no-12-restricted-investm/analysis","conflicts":"/api/acts/life-insurance-prudential-rules-determination-no-2-of-2007-prudential-rules-no-12-restricted-investm/conflicts","importantCases":"/api/acts/life-insurance-prudential-rules-determination-no-2-of-2007-prudential-rules-no-12-restricted-investm/important-cases","documents":"/api/acts/life-insurance-prudential-rules-determination-no-2-of-2007-prudential-rules-no-12-restricted-investm/documents"}}