Document ID: chunk:federal_register_of_legislation:F2012L02224:body:0:p6
Version: federal_register_of_legislation:F2012L02224
Segment Type: other
Provision Reference: 
Character Range: 14274–16891

end date of the arrangement.

Adjustments and exclusions
    35.         APRA may, by notice in writing to an RSE licensee, adjust or exclude a specific prudential requirement in this Prudential Standard in relation to that RSE licensee.[12]

    [1]  For the purposes of this Prudential Standard, 'RSE licensee' has the meaning given in section 10(1) of the SIS Act.
    [2]  Refer to Prudential Standard SPS 231 Outsourcing (SPS 231) for requirements relating to outsourcing.
    [3]  For the purposes of this Prudential Standard, a reference to 'a group' is a reference to a group comprising the RSE licensee and all connected entities and all related bodies corporate of the RSE licensee, 'connected entity' has the meaning given in section 10(1) of the SIS Act and 'related body corporate' has the meaning given in section 50 of the Corporations Act 2001.
    [4]  For the purposes of this Prudential Standard, a reference to 'the Board' is a reference to the Board of directors or group of individual trustees of an RSE licensee and 'group of individual trustees' has the meaning given in section 10(1) of the SIS Act.
    [5]  For the purposes of this Prudential Standard, a reference to 'beneficiaries' is a reference to 'beneficiaries of an RSE within the RSE licensee's business operations' and an 'RSE licensee's business operations' includes all activities as an RSE licensee (including the activities of each RSE of which it is the licensee), and all other activities of the RSE licensee to the extent that they are relevant to, or may impact on, its activities as an RSE licensee.
    [6]  Refer to Prudential Standard SPS 220 Risk Management (SPS 220) for requirements relating to the risk management framework and declaration.
    [7]  A reference to a 'BCP' includes reference to more than one BCP where appropriate. An RSE licensee may have a number of BCPs. A BCP may include a separate crisis management plan and disaster recovery plan.
    [8]  A material change to business operations includes a change in a material outsourcing arrangement. Refer to SPS 231 for further information on outsourcing.
    [9] This applies whether the major disruption affects the business operations of the RSE licensee or an outsourced service provider of the RSE licensee.
    [10]  Where this Prudential Standard provides for APRA to determine the form of information or notifications, or otherwise exercise a power or discretion, the power or discretion is to be exercised in writing.
    [11]  Refer to Prudential Standard SPS 310 Audit and Related Matters.
    [12]  Refer to section 34C(5) of the SIS Act.