Document ID: chunk:federal_register_of_legislation:F2023L00675:body:0:p3
Version: federal_register_of_legislation:F2023L00675
Segment Type: other
Provision Reference: 
Character Range: 5690–7085

reporting date[1]; and
       (e)          |GP1 – GP0| is the absolute value of the difference between GP1 and GP0.
    All transfers of insurance business made in accordance with the Act must be recognised in line with the corresponding requirements under Australian Accounting Standards.
    9.             The ORCI is calculated as follows:
    10.         The ORCNI is calculated as follows:

Adjustments and exclusions
    11.         APRA may, by notice in writing to a regulated institution, adjust or exclude a specific requirement in this Prudential Standard in relation to that regulated institution.

Previous exercise of discretion
12.         A regulated institution must contact APRA if it seeks to place reliance, for the purposes of complying with this Prudential Standard, on a previous exemption or other exercise of discretion made by APRA under a previous version of this Prudential Standard.
    [1]  Under Prudential Standard GPS 340 Insurance Liability Valuation, a Level 2 insurance group may use accounting entries to determine its premiums liabilities, after allowing for necessary adjustments made under GPS 340. Where accounting entries have been used to determine net premiums liabilities, the Level 2 insurance group must use the accounting equivalent of net premiums liabilities instead of the net central estimate for the purposes of the Operational Risk Charge.