Document ID: chunk:federal_register_of_legislation:F2023L00622:body:0:p10
Version: federal_register_of_legislation:F2023L00622
Segment Type: other
Provision Reference: 
Character Range: 30621–35089

as the sum of:

                                                                                 * Additional Tier 1 Capital; and
                                                                                 * net assets (less equity components classified as Additional Tier 1 Capital) multiplied by 1.2

                                                                             divided by:

                                                                                 * prescribed capital amount.
Net assets ratio                                                             For a fund, net assets ratio is calculated as:

                                                                                 * net assets of the fund (after seed capital adjustments) multiplied by 1.2

                                                                             divided by:

                                                                                 * prescribed capital amount.

                                                                             For a life company, net assets ratio is calculated as:

                                                                                 * net assets (less equity components classified as Additional Tier 1 Capital) multiplied by 1.2

                                                                             divided by:

                                                                                 * prescribed capital amount.

O

Other accounts payable                                                                   This is the amount related to other amounts due but not yet paid which has been recognised within insurance and reinsurance contract liabilities and assets reported on the balance sheet under AASB 17. This may include (but is not limited to) rebates, fees and commissions.

                                                                                         Life companies must exclude any amount already allowed in adjusted policy liabilities to avoid double counting.

                                                                                         This item increases liability adjustments.

Other accounts receivable                                                                This is the amount related to other amounts due but not yet received which has been recognised within insurance and reinsurance contract liabilities and assets reported on the balance sheet under AASB 17.  This may include (but is not limited to) rebates, fees and commissions.

                                                                                         Life companies must exclude any amount already allowed in adjusted policy liabilities to avoid double counting.

                                                                                         This item reduces liability adjustments.

Other adjustments to net assets as approved by APRA                                      This is the total value of any other regulatory adjustments to the net assets of the fund that does not fall into the other categories for the purpose of LPS 112.

Other Common Equity Tier 1 capital adjustments                                           This is the value of deductions from Common Equity Tier 1 Capital that the life company must make under any prudential standards other than LPS 112.

Other gains and losses in accumulated comprehensive income and other disclosed reserves  This is the value of any other gains and losses in accumulated comprehensive income and other disclosed reserves that may be specified in writing by APRA as per LPS 112.

Other net asset adjustments                                                              This is the value of deductions from the net assets that the fund must make as required under any prudential standards other than LPS 112.

P

Paid-up ordinary shares                          This is the value of paid-up ordinary shares issued by the life company that meets the criteria for classification as ordinary shares for regulatory purposes in accordance with LPS 112.

Premiums receivable                              This is the amount related to insurance premiums due but not yet received which has been recognised within insurance and reinsurance contract liabilities and assets reported on the balance sheet under AASB 17.

                                                 Premiums should be gross of