Document ID: chunk:federal_register_of_legislation:F2019L01085:body:0:p4
Version: federal_register_of_legislation:F2019L01085
Segment Type: other
Provision Reference: 
Character Range: 7955–10113

company that is a life company, total resident assets means the value of the company's total assets, worked out in accordance with the method for calculating total assets under Reporting Standard LRS 300.0.

Information to be contained in yearly report of prudential information (paragraph 16A(5)(b) of the Act)

12.         For the purposes of paragraph 16A(5)(b) of the Act, the following information is prescribed:
       (a)          any information known to the holder of the approval that reveals that the total resident assets of the relevant licensed company has or had exceeded, or is likely to exceed in the current financial year, the assets threshold;

       (b)          the amount of the direct control interest and the stake held by the holder of the approval in the relevant licensed company as at the end of the most recent expired financial year;

       (c)          if the holder of the approval is a company, any changes to its directors, chief executive officer, or equivalent persons;

       (d)          subject to Rule 13 of these Rules, an attestation by the holder of the approval of the following in relation to the most recent expired financial year:
            (i)               there has been no material change to the fitness and propriety of the holder, including but not limited to matters prescribed under Rule 7 of these Rules;
            (ii)               there has been no significant deterioration in the financial position of the holder; and
            (iii)               the holder is not, and has not been the subject of any legal action or investigation which might put into question the holder's fitness and propriety; and
            (iv)               if the holder is a company, that there are no concerns about, and no material change to, the fitness and propriety of any of its directors and chief executive officer, or equivalent persons, including but not limited to matters prescribed under Rule 7 of these Rules.
13.         If the holder of the approval is a company, the attestation under Rule 12 of these Rules must be made by the chief executive officer, or an equivalent person, of the holder.