Banking, Insurance, Life Insurance, Health Insurance and Superannuation (prudential standard) determination No. 4 of 2023
Pre-positioning planPre-positioning plan
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Pre-positioning plan
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APRA may require an APRA-regulated entity to develop and implement a pre-positioning plan to remove barriers to the execution of resolution options and mitigate execution risks.
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The pre-positioning plan must include, where applicable:
(a) changes to organisational or legal structure, including the location of any shared services within a group;
(b) renegotiation of contracts, including with third-party service providers;
(c) development of wind-down or run-off plans for particular businesses or assets;
(d) measures to ensure the operational continuity of key functions and services during resolution;
(e) capabilities necessary to support APRA in effecting the resolution options; and
(f) any other actions required to remove barriers to the execution of resolution options or mitigate execution risks.
- APRA may require an APRA-regulated entity to implement additional pre-positioning actions if necessary to support the resolution plan.