CTHRepealedLegislation
Life Insurance (prudential standard) determination No. 1 of 2011 - Prudential Standard LPS 600 - Statutory Funds
Information to be lodged with APRA folloInformation to be lodged with APRA following the restructure
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Information to be lodged with APRA following the restructure
- If a restructure of statutory funds involves the establishment of a new statutory fund (the ‘receiving fund’), the life company must give to APRA, within 6 weeks after the establishment of the receiving fund, a written notice setting out the following:
(a) the nature and terms of the establishment of the receiving fund; and
(b) the nature and value of assets transferred from a transferring fund to the receiving fund; and
(c) the kinds of policies that are referable to the receiving fund.
- The notice referred to in paragraph 17 must be accompanied by statements that the receiving fund has been established in accordance with section 52 of the Act, certified by:
(a) the principal executive officer; and
(b) the appointed actuary; and
(c) the auditor.