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Life Insurance (prudential standard) determination No. 2 of 2023
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6. Terms that are defined in Prudential Standard LPS 001 Definitions appear in bold the first time they are used in this Prudential Standard.
7. Unless otherwise indicated:
(a) the term statutory fund will be used to refer to a statutory fund of a life company other than a friendly society, or an approved benefit fund of a friendly society, as relevant;
(b) the term general fund will be used to refer to the shareholders’ fund of a life company other than a friendly society, or the management fund of a friendly society, as relevant; and
(c) the term ‘fund’ will be used to refer to a statutory fund or a general fund, as relevant.