Definitions

1. For the purposes of this Prudential Standard:
   1. capital instruments – includes all capital instruments eligible to be included in Common Equity Tier 1 Capital, Additional Tier 1 Capital and Tier 2 Capital;
   2. distributable items – means items that are permitted to be distributed in accordance with relevant statutory and regulatory requirements applicable to distributions by the issuer;
   3. mutual equity interests – capital instruments issued by mutually owned private health insurers that meet the criteria in Attachment F to this Prudential Standard;
   4. mutually-owned private health insurer – means a private health insurer that is a ‘mutual entity’ as defined in the Corporations Act;
   5. non-viability event – has the meaning in paragraph 2 of Attachment E to this Prudential Standard;
   6. paid-up instrument means a capital instrument where:
      1. the payment of the capital has been received with finality by the issuer;
      2. the capital is reliably valued;
      3. the capital is fully under the issuer’s control; and
      4. the instrument does not, directly or indirectly, expose the issuer to the credit risk of an investor;
   7. related entity – means an entity over which a private health insurer or parent entity of the private health insurer exercises control or significant influence and can include a parent company, a sister company, a subsidiary or any other affiliate.