Prudential Standard CPS 001 Defined termPrudential Standard CPS 001 Defined terms

Prudential Standard CPS 001 Defined terms

Banking Act 1959

Insurance Act 1973

Life Insurance Act 1995

Private Health Insurance (Prudential Supervision) Act 2015

I, Sean Carmody, a delegate of APRA:

(a) under subsection 11AF(3) of the Banking Act, REVOKE Banking, Insurance, Life Insurance and Health Insurance (prudential standard) determination No. 1 of 2024 including Prudential Standard CPS 001 Defined terms made under that determination;

(b) under subsection 32(4) of the Insurance Act, REVOKE Banking, Insurance, Life Insurance and Health Insurance (prudential standard) determination No. 1 of 2024 including Prudential Standard CPS 001 Defined terms made under that determination;

(c) under subsection 230A(5) of the Life Insurance Act, REVOKE Banking, Insurance, Life Insurance and Health Insurance (prudential standard) determination No. 1 of 2024 including Prudential Standard CPS 001 Defined terms made under that determination;

(d) under subsection 92(5) of the PHIPS Act, REVOKE Banking, Insurance, Life Insurance and Health Insurance (prudential standard) determination No. 1 of 2024 including Prudential Standard CPS 001 Defined terms made under that determination;

(e) under subsection 11AF(1) of the Banking Act, DETERMINE the prudential standard which applies to all ADIs and authorised banking NOHCs;

(f) under subsection 32(1) of the Insurance Act, DETERMINE the prudential standard which applies to all general insurers and authorised insurance NOHCs and subsidiaries of general insurers or authorised insurance NOHCs, where subsidiaries are parent entities of Level 2 insurance groups;

(g) under subsection 230A(1) of the Life Insurance Act, DETERMINE the prudential standard which applies to all life companies, including friendly societies, registered NOHCs and subsidiaries of life companies or registered NOHCs; and

(h) under subsection 92(1) of the PHIPS Act, DETERMINE the prudential standard which applies to all private health insurers.

This instrument commences on 1 January 2026.

Dated: 15 November 2025

Sean Carmody

Executive Director

Policy and Advice Division

Interpretation

In this instrument:

ADI has the meaning given in section 5 of the Banking Act.

APRA means the Australian Prudential Regulation Authority.

authorised banking NOHC has the meaning given to the expression authorised NOHC in section 5 of the Banking Act.

authorised insurance NOHC has the meaning given to the expression authorised NOHC in subsection 3(1) of the Insurance Act.

friendly society has the meaning given in section 16C of the Life Insurance Act.