Document ID: chunk:federal_register_of_legislation:F2023L00735:body:0:p11
Version: federal_register_of_legislation:F2023L00735
Segment Type: other
Provision Reference: 
Character Range: 26299–29259

paragraph 35; and
(d)          the term 'AASB 17 change in shareholder retained profits' means an amount determined in accordance with paragraph 36.
33.         For each statutory fund, the total amount of aggregate retained profits at adjustment date is equal to the amount of 'Life Insurance Act retained profits at end of period' reported in the Total business Total column of form LRF 340.1 Retained Profits (SF & SF eliminations) (LRF 340) in the annual return for the fund for the financial year ending on the adjustment date. This amount must be fully allocated across the categories of business as follows:
(a)          The amount allocated to Australian participating business categories must equal the amount of APRP reported in the Australian business Policy owner interests column of LRF 340 plus the amount of SRPP reported in the Australian business Shareholder interests column of LRF 340;
(b)          The amount allocated to overseas participating business categories must equal the amount of OPRP reported in the Overseas business Policy owner interests column of LRF 340 plus such part of the amount of SRPN, reported in the Overseas business Shareholder interests column of LRF 340, as is attributable to overseas participating business; and
(c)          The amount allocated to non-participating business categories must equal the amount of SRPN reported in the Australian business Shareholder interests column of LRF 340 plus such part of the amount of SRPN, reported in the Overseas business Shareholder interests column of LRF 340, as is attributable to non-participating business.
34.         For each statutory fund, the total amount of aggregate shareholder retained profits at adjustment date is equal to the amount of 'Life Insurance Act retained profits at end of period' reported in the Total business Shareholder interests column of LRF 340 in the annual return for the fund for the financial year ending on the adjustment date. This amount must be fully allocated across the categories of business as follows:
(a)          The amount allocated to Australian participating business categories must equal the amount of SRPP reported in the Australian business Shareholder interests column of LRF 340;
(b)          The amount allocated to overseas participating business categories must equal such part of the amount of SRPN, reported in the Overseas business Shareholder interests column of LRF 340, as is attributable to overseas participating business; and
(c)          The amount allocated to non-participating business categories must equal the amount of SRPN reported in the Australian business Shareholder interests column of LRF 340 plus such part of the amount of SRPN, reported in the Overseas business Shareholder interests column of LRF 340, as is attributable to non-participating business.
35.         For each statutory fund, the total amount of aggregate shareholder retained profits on AASB 17 adoption equals the