CTHRepealedLegislation
Life Insurance (prudential standard) determination No. 6 of 2012
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This Prudential Standard applies to all life companies including friendly societies (together referred to as life companies) registered under the Act[1], except where expressly noted otherwise.
- 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 and its shareholders’ fund; and (b) for a friendly society: to each of its approved benefit funds and its management fund.
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This Prudential Standard only applies to the business of an Eligible Foreign Life Insurance Company which is carried on through its Australian statutory funds but not otherwise.[2]
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This Prudential Standard applies to life companies from 1 January 2013.