CTHRepealedLegislation
Life Insurance (prudential standard) determination No. 2 of 2012
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2. This Prudential Standard applies to all life companies including friendly societies (together referred to as life companies) registered under the Act[\[1\]](#_ftn1), except where expressly noted otherwise.
3. A life company must apply this Prudential Standard separately:
(a) for a life company other than a friendly society: to each of its statutory funds, its shareholders’ fund and the life company as a whole; and
(b) for a friendly society: to each of its approved benefit funds, its management fund and the friendly society as a whole.
4. This Prudential Standard only applies to the business of an Eligible Foreign Life Insurance Company (EFLIC) which is carried on through its Australian statutory funds but not otherwise.[\[2\]](#_ftn2)
5. This Prudential Standard applies to life companies from 1 January 2013.