Life Insurance (prudential standard) determination No. 1 of 2011 - Prudential Standard LPS 600 - Statutory Funds
When restructure has effectWhen restructure has effect
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When restructure has effect
- The restructure of statutory funds of a life company shall have effect when:
(a) policies that, immediately before the restructure, were referable to a transferring fund become referable to a receiving fund; and
(b) policy and other liabilities that, immediately before the restructure, were referable to a transferring fund become referable to a receiving fund; and
(c) assets that, immediately before the restructure, were assets of a transferring fund become assets of a receiving fund
to the extent specified in documents supporting an application under paragraph 5 provided to APRA.