Financial Sector (Shareholdings) determination No. 1 of 2019
Meaning of total resident assets (subsecMeaning of total resident assets (subsection 14A(5) of the Act)
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Meaning of total resident assets (subsection 14A(5) of the Act)
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In relation to a financial sector company that is an ADI that is a credit union, building society or provider of purchased payment facilities, total resident assets means the value of the company’s total assets, worked out in accordance with the method for calculating total assets under Reporting Standard ARS 323.0.
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In relation to a financial sector company that is an ADI to which Rule 8 of these Rules does not apply, total resident assets means the value of the company’s total assets, worked out in accordance with the method for calculating total assets under Reporting Standard ARS 320.0.
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In relation to a financial sector company that is a general insurer, total resident assets means the value of the company’s total assets, worked out in accordance with the method for calculating total assets under Reporting Standard GRS 300.0.
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In relation to a financial sector company that is a life company, total resident assets means the value of the company’s total assets, worked out in accordance with the method for calculating total assets under Reporting Standard LRS 300.0.