Document ID: chunk:federal_register_of_legislation:F2023L00641:body:0:p15
Version: federal_register_of_legislation:F2023L00641
Segment Type: other
Provision Reference: 
Character Range: 50139–56018

* prescribed capital amount.
Prescribed capital amount coverage (net assets)                        For a non-category C insurer, prescribed capital amount coverage (net assets) is calculated as the sum of:

                                                                           * Additional Tier 1 Capital;
                                                                           * Tier 2 Capital; and
                                                                           * net assets (less equity components classified as Additional Tier 1 Capital) multiplied by 1.2

                                                                       divided by:

                                                                           * prescribed capital amount.

                                                                       For a category C insurer, prescribed capital amount coverage (net assets) is calculated as:

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

                                                                       divided by:

                                                                           * prescribed capital amount.
Profit (loss) after income tax attributable to members of the company  Report this item in accordance with AASB 101.81B (a) (ii).

R

Reduction in retained earnings on share buy back                                                         This is the value of the reduction in the reporting insurer's retained earnings due to the buy back, or repurchase, of shares on issue during the relevant period. This represents the portion of the consideration used for share buy backs that is allocated to retained earnings.

Regulatory adjustments to adjusted net assets for accounts payables inside Australia                     These are adjustments to be added to liabilities in Australia net of surplus / (deficit) relating to insurance liabilities relating to accounts payables, net of tax effects.

                                                                                                         Regulatory adjustments to adjusted net assets for accounts payable inside Australia is calculated as the sum of:

                                                                                                             * claims payable inside Australia;
                                                                                                             * amounts payable on reinsurance contracts held inside Australia; and
                                                                                                             * other accounts payable on insurance contracts issued inside Australia;

                                                                                                         less:

                                                                                                             * reversal of tax impact of payables inside Australia.

Regulatory adjustments to adjusted net assets for accounts receivables inside Australia                  These are adjustments to be deducted from liabilities in Australia net of surplus / (deficit) relating to insurance liabilities relating to accounts receivables, net of tax effects.

                                                                                                         Regulatory adjustments for accounts receivable capital for account receivables is calculated as the sum of:

                                                                                                             * premiums receivable inside Australia;
                                                                                                             * amounts receivable on reinsurance contracts held inside Australia;
                                                                                                             * non-reinsurance recoveries receivable inside Australia; and
                                                                                                             * other accounts receivable on insurance contracts issued inside Australia;

                                                                                                         less:

                                                                                                             * reversal of tax impact of receivables inside Australia.

Regulatory adjustments to Common Equity Tier 1 Capital for accounts payables                             These are adjustments to be deducted from Common Equity Tier 1 Capital relating to accounts payables, net of tax effects.

                                                                                                         Regulatory adjustments to Common Equity Tier 1 Capital for accounts payables is calculated as the sum of:

                                                                                                             * claims payable;
                                                                                                             * amounts payable on reinsurance contracts held; and
                                                                                                             * other accounts payable on insurance contracts issued;

                                                                                                         less:

                                                                                                             * reversal of tax impact of payables.

Regulatory adjustments to Common Equity Tier 1 Capital for accounts receivables                          These are adjustments to be added to Common Equity Tier 1