Life Insurance (prudential standard) determination No. 12 of 2010 - Prudential Standard LPS 700 Friendly Society Benefit Funds
Information to be lodged with APRA folloInformation to be lodged with APRA following a restructure
Start here
Get a plain-English read of Information to be lodged with APRA follo
Turn the raw legal text into a practical explanation grounded in Life Insurance (prudential standard) determination No. 12 of 2010 - Prudential Standard LPS 700 Friendly Society Benefit Funds.
Information to be lodged with APRA following a restructure
- A friendly society must lodge with APRA within three months, or such other period as APRA determines in writing, after a restructure takes effect:
(a) audited accounts, or accounts in a form approved by APRA in writing, for each fund involved in the restructure up to the date that the restructure takes effect; and
(b) such other information as APRA may require.
- The accounts in paragraph 71 must include, if applicable:
(a) details of any bonuses paid by the friendly society from any fund involved in the restructure and of any reserves retained by the friendly society in a fund during the period to which the accounts relate; and
(b) a statement of the manner in which the units of a transferring fund were converted to units of a receiving fund.