Document ID: chunk:federal_register_of_legislation:F2024L00884:body:0:p2
Version: federal_register_of_legislation:F2024L00884
Segment Type: other
Provision Reference: 
Character Range: 2737–5846

2 Capital issued overseas by the life company
Intra-group capital transactions
Holding of capital instruments in group members by other group members
Capital base of a statutory fund
Capital base of a general fund
Attachment A - Criteria for classification as paid-up ordinary shares
Attachment B - Regulatory adjustments
General rules for regulatory adjustments
Exception for assets with values linked to the value of liabilities
Holdings of own capital instruments
Regulatory adjustments to Common Equity Tier 1 Capital
Deferred tax assets and deferred tax liabilities
Gains and losses arising from changes in own creditworthiness
Goodwill and other intangibles
Superannuation funds
Reinsurance assets
Investments in subsidiaries, joint ventures and associates
Assets under a fixed or floating charge
Liability adjustment
Fair value adjustments
Other adjustments
Regulatory adjustments to the net assets of a statutory fund or general fund
Attachment C - Criteria for inclusion in Additional Tier 1 Capital
Attachment D - Criteria for inclusion in Tier 2 Capital
Attachment E - Loss absorption at the point of non-viability: Additional Tier 1 and Tier 2 Capital instruments
Attachment F - Definition of Adjusted Policy Liabilities
Non-participating benefits
Definition of RFBEL
Participating benefits
Liability options and asymmetries
Friendly societies
Attachment G - Mutual Equity Interests

Authority
     1. This Prudential Standard is made under paragraph 230A(1)(a) of the Life Insurance Act 1995 (the Act).

Application and commencement
2.             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.
3.             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, its shareholders' fund and the life company as a whole; and
(b)          for a friendly society: to each of its approved benefit funds, its management fund and the friendly society as a whole.
4.             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]
5.             This Prudential Standard applies to life companies from 1 October 2024.

Adjustments and exclusions
6.             APRA may adjust or exclude a specific requirement in this Prudential Standard in relation to a life company.[3]

Previous exercise of discretion
7.             An exercise of APRA's discretion (such as an approval, waiver or direction) under a previous version of this Prudential Standard continues to have effect as though exercised pursuant to a corresponding power (if any) exercisable by APRA under this Prudential Standard.

Interpretation
8.             Terms that are defined in Prudential Standard LPS 001 Definitions appear in bold the first time they are used in this Prudential Standard.
9.             Where this Prudential Standard provides for APRA