CTHRepealedLegislation
Life Insurance (prudential standard) determination No. 2 of 2012
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Life Insurance (prudential standard) determination No. 2 of 2012
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Turn the raw legal text into a practical explanation grounded in Life Insurance (prudential standard) determination No. 2 of 2012.
54. A life company must inform APRA as soon as practicable of:
(a) any breach or prospective breach of its PCR or the PCR of any of its funds;
(b) any significant departure from its ICAAP; or
(c) any significant adverse changes in the capital base or PCR of the company or any of its funds.
The notice must include any remedial actions taken or planned to be taken to address the situation and the timing of these actions.