Document ID: chunk:federal_register_of_legislation:F2015L00830:body:0:p19
Version: federal_register_of_legislation:F2015L00830
Segment Type: other
Provision Reference: 
Character Range: 53518–56311

given in s. 15A of the SIS Act or engaged to be a contractor or consultant, of the RSE licensee.

Director of associate                  Represents a director of an associate of the RSE licensee. Includes directors of: the parent entity(s) of the RSE licensee; subsidiaries of the parent entity of the RSE licensee; subsidiaries of the RSE licensee; joint ventures or associates of the RSE licensee; and other associates.

Associate of director (associate of RSE licensee)      Represents an entity that is an associate, within the meaning given in s. 12 of the SIS Act, of a director of an RSE licensee and also an associate of the RSE licensee itself. Excludes: Associate of individual director (non-associate of RSE licensee).

Associate of director (non associate of RSE licensee)  Represents an entity that is an associate, within the meaning given in s. 12 of the SIS Act, of a director of an RSE licensee, but is not otherwise an associate of the RSE licensee itself. Excludes: Associate of individual director (associate of RSE licensee).

Interpretation

For the purposes of these instructions:

     * associate has the meaning given in section 12 of the SIS Act;

     * cluster means an aggregation of policies issued by a single insurer;

     * insurer has the meaning given in Prudential Standard SPS 250 Insurance in Superannuation;

     * operational risk financial requirement (ORFR) has the meaning given in Prudential Standard SPS 114 Operational Risk Financial Requirement;

     * RSE means a registrable superannuation entity as defined in section 10(1) of the SIS Act;

     * RSE licensee has the meaning given in section 10(1) of the SIS Act;

     * single member approved deposit fund (SMADF) means a superannuation entity that is an approved deposit fund, within the meaning of section 10(1) of the SIS Act, that has only one member;

     * SIS Act means Superannuation Industry (Supervision) Act 1993; and

     * small APRA fund (SAF) means a superannuation entity that is a regulated superannuation fund, within the meaning given in section 10(1) of the SIS Act, which has fewer than five members.

    [1]  For the purposes of this Reporting Standard, an 'RSE licensee's business operations' includes all activities as an RSE licensee (including the activities of each RSE of which it is the licensee), and all other activities of the RSE licensee to the extent that they are relevant to, or may impact on, its activities as an RSE licensee. An RSE licensee that does not have any SAFs or SMADFs within its business operations is not required to provide information under this Reporting Standard.
    [2]  Refer also to Prudential Standard SPS 310 Audit and Related Matters (SPS 310).
    [3]  Refer to Prudential Standard SPS 510 Governance.