{"id":"F2007L00853","name":"Life Insurance (prudential standards) determination No. 3 of 2007 - PS 6.4D Prudential Standard (Friendly Societies) Service Contracts","slug":"life-insurance-prudential-standards-determination-no-3-of-2007-ps-6-4d-prudential-standard-friendly-","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":64629,"registerId":"commonwealth-F2007L00853-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Life Insurance (prudential standards) determination No. 3 of 2007 - PS 6.4D Prudential Standard (Friendly Societies) Service Contracts","content":"![](image.001.png)\n\nLife insurance (prudential standards) determination No.3 of 2007\n\nPS 6.4D Prudential Standard (Friendly Societies) Service Contracts\n\nLife Insurance Act 1995\n\nI, John Roy Trowbridge, Member of APRA, delegate of APRA, under subsection 230A(5) of the Life Insurance Act 1995 (the Act), REVOKE PS 6.4D Prudential Standard (Friendly Societies) Service Contracts.\n\nThis determination takes effect on the later of 1 April 2007 and the date of registration on the Federal Register of Legislative Instruments.\n\n    Dated 23 March 2007\n\nSigned\n\nJohn Trowbridge\n\nMember\n\nInterpretation\n\nIn this determination:\n\n> APRA means the Australian Prudential Regulation Authority.\n\n> Federal Register of Legislative Instruments means the register established under section 20 of the Legislative Instruments Act 2003.\n\n> Note 1 The prudential standard revoked by this determination has effect, for the purposes of the Act, by application of regulation 33 of the Financial Sector Reform (Amendments and Transitional Provisions) Regulations 1999.","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2570},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"This determination performs exactly the function described—revoking a specific prudential standard. There is no expansion beyond the stated purpose of removing PS 6.4D."},"complexity_factors":["Single operative action (revocation of one instrument)","Minimal interpretation clause (only 2 definitions)","No procedural requirements, conditions, or exceptions","No substantive regulatory requirements imposed"],"plain_english_summary":"This determination **revokes** (cancels) an older regulatory rule known as Prudential Standard PS 6.4D.\n\n**What previously existed:**\n- PS 6.4D set requirements for how **friendly societies** (mutual insurance organizations owned by their members) could arrange and manage service contracts—agreements where third parties provide services to the society.\n\n**What this does:**\n- Completely removes PS 6.4D from effect. Friendly societies are no longer required to comply with these specific service contract rules.\n\n**Who it affects:**\n- Friendly societies regulated under the *Life Insurance Act 1995* that previously had to meet PS 6.4D requirements.\n\n**Why it matters:**\n- This reduces regulatory burden by eliminating a specific compliance requirement. The Australian Prudential Regulation Authority (APRA) typically makes such changes to streamline regulations while maintaining overall financial safety standards."}},"importantCases":[],"_links":{"self":"/api/acts/life-insurance-prudential-standards-determination-no-3-of-2007-ps-6-4d-prudential-standard-friendly-","history":"/api/acts/life-insurance-prudential-standards-determination-no-3-of-2007-ps-6-4d-prudential-standard-friendly-/history","analysis":"/api/acts/life-insurance-prudential-standards-determination-no-3-of-2007-ps-6-4d-prudential-standard-friendly-/analysis","conflicts":"/api/acts/life-insurance-prudential-standards-determination-no-3-of-2007-ps-6-4d-prudential-standard-friendly-/conflicts","importantCases":"/api/acts/life-insurance-prudential-standards-determination-no-3-of-2007-ps-6-4d-prudential-standard-friendly-/important-cases","documents":"/api/acts/life-insurance-prudential-standards-determination-no-3-of-2007-ps-6-4d-prudential-standard-friendly-/documents"}}