Document ID: chunk:federal_register_of_legislation:C2018A00010:clause:2_5
Version: federal_register_of_legislation:C2018A00010
Segment Type: clause
Provision Reference: sch 2 cl 5
Character Range: 114540–115507

5  Subsection 3(1) (definition of prudential matters)
Repeal the definition, substitute:
prudential matters means matters relating to:
 (a) the conduct of any part of the affairs of, or the structuring or organising of, a general insurer, an authorised NOHC, a relevant group of bodies corporate, or a particular member or members of such a group, in such a way as:
 (i) to keep the general insurer, NOHC, group or member or members of the group in a sound financial position; or
 (ii) to facilitate resolution of the general insurer, NOHC, group or member or members of the group; or
 (iii) to protect the interests of policyholders of any general insurer; or
 (iv) not to cause or promote instability in the Australian financial system; or
 (b) the conduct of any part of the affairs of a general insurer, an authorised NOHC, a relevant group of bodies corporate, or a particular member or members of such a group, with integrity, prudence and professional skill.