Life Insurance (prudential standard) determination No. 4 of 2023
Prudential Standard LPS 370 Cost of InvePrudential Standard LPS 370 Cost of Investment Performance Guarantees comprises the document commencing on the following page.
Start here
Get a plain-English read of Prudential Standard LPS 370 Cost of Inve
Turn the raw legal text into a practical explanation grounded in Life Insurance (prudential standard) determination No. 4 of 2023.
Commonwealth Coat of Arms
Life Insurance (prudential standard) determination
No. 4 of 2023
Prudential Standard LPS 370 Cost of Investment Performance Guarantees
Life Insurance Act 1995
I, Clare Gibney, a delegate of APRA:
(a) under subsection 230A(5) of the Life Insurance Act (the Act) revoke Life Insurance (prudential standard) determination No. 14 of 2012, including Prudential Standard LPS 370 Cost of Investment Performance Guarantees made under that Determination; and
(b) under subsection 230A(1) of the Act, determine Prudential Standard LPS 370 Cost of Investment Performance Guarantees, in the form set out in the Schedule, which applies to all life companies, including friendly societies.
This instrument commences on 29 March 2023.
Dated: 7 March 2023
Clare Gibney
Executive Director
Policy and Advice Division
Interpretation
In this instrument:
APRA means the Australian Prudential Regulation Authority.
friendly society has the meaning given in section 16C of the Act.
life company has the meaning given in the Schedule to the Act.
Schedule