CTHRepealed
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Insurance (prudential standard) determination No. 10 of 2012 - Prudential Standard GPS 220 - Risk Management
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Turn the raw legal text into a practical explanation grounded in Insurance (prudential standard) determination No. 10 of 2012 - Prudential Standard GPS 220 - Risk Management.
(a) the chief executive officer (CEO) (by whatever name called, or for a Category C insurer, the local equivalent); and
(b) the chief financial officer (CFO) (by whatever name called, or for a Category C insurer, the local equivalent).
This declaration is set out in Attachment C. Where the CEO and the CFO are the same person, the Financial Information Declaration must be signed by that person and another person to be agreed upon with APRA.
The Financial Information Declaration must be submitted to APRA on, or before, the day that the insurer’s yearly statutory accounts or Level 2 insurance group’s annual accounts (as appropriate) are required to be submitted to APRA in accordance with reporting standards made under the Collection of Data Act.
If the CEO or CFO qualifies the Financial Information Declaration, the qualified Declaration must include a description of the cause and circumstances of the qualification, and steps taken, or proposed to be taken, to remedy the problem.