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Life Insurance Act 1995
47Ascertainment of income and outgoings of a statutory fund
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47 Ascertainment of income and outgoings of a statutory fund
(1) The prudential standards may specify: (a) what constitutes income of a statutory fund; and (b) what constitutes outgoings of a statutory fund. (2) If prudential standards are made for the purposes of subsection (1), then, for the purposes of this Act: (a) what constitutes income of a statutory fund must be determined in accordance with the prudential standards; and (b) what constitutes outgoings of a statutory fund must be determined in accordance with the prudential standards.