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Insurance (prudential standard) determination No. 12 of 2008 - Prudential Standard GPS 510 - Governance
Senior officer outside Australia (CategoSenior officer outside Australia (Category C insurers)
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Senior officer outside Australia (Category C insurers)
- As in the case of locally-incorporated insurers, the ultimate responsibility for the safety and soundness of a Category C insurer resides with its Board. Category C insurers must nominate a senior officer (whether a director or senior executive) outside Australia with delegated authority from the Board who will be responsible for overseeing the Australian branch operation.