Document ID: chunk:federal_register_of_legislation:F2024L00638:body:0:p10
Version: federal_register_of_legislation:F2024L00638
Segment Type: other
Provision Reference: 
Character Range: 23919–26545

the extent that they are relevant to, or may impact on, its activities as an RSE licensee and 'connected entity' has the meaning given in section 10(1) of the SIS Act. Refer also to Part 3A of the SIS Act.
[6]  For the purposes of this Prudential Standard, a reference to 'the Board' is a reference to the Board of directors or group of individual trustees of an RSE licensee and 'group of individual trustees' has the meaning given in section 10(1) of the SIS Act.
[7]  As required by Prudential Standard SPS 220 Risk Management.
[8]  For the purposes of this Prudential Standard, a reference to 'a director' is a reference to a director of an RSE licensee which has a Board of directors or, in the case of a group of individual trustees, an individual trustee.
[9]  'RSE auditor' has the meaning given in section 10(1) of the SIS Act. 'Lead auditor' has the meaning given in section 11F of the SIS Act.
[10]  'RSE actuary' and 'RSE licensee law' have the meaning given in section 10(1) of the SIS Act.
[11]  Paragraphs 17(a) and (b) are intended to be interpreted consistently with the definition of 'senior manager' (in relation to a corporation) in section 9 of the Corporations Act 2001 (Corporations Act).
[12]  'Executive officer' has the meaning given in section 10(1) of the SIS Act. Where the RSE licensee is a group of individual trustees, an executive officer is a person, by whatever name called, who is concerned or takes part in the management of the body.
[13]  Refer to section 126H(6A) of the SIS Act.
[14]  Refer to Prudential Standard SPS 521 Conflicts of Interest.
[15]  Refer to SPS 510 for the requirement for auditors to be independent.
[16]  Refer to section 35AC(2)(a) of the SIS Act.
[17]  Refer to SPS 510 for a similar restriction on the RSE auditor and RSE actuary being from the same entity.
[18]  Refer to section 35AD(2)(a) of the SIS Act.
[19]  A reference to 'Fellow' and 'Accredited Member' is to be read as defined by the Institute of Actuaries of Australia.
    [20]  Including following the processes described in the Fit and Proper Policy under paragraph 26(b).
    [21]  Also refer to the provisions in SPS 510 for not constraining persons from providing information.
    [22]  Including the actions outlined in the Fit and Proper Policy in accordance with paragraph 34.
    [23]  Under Reporting Standard SRS 520.0 Responsible Persons Information (SRS 520.0), an RSE licensee must provide revised information to APRA within 14 days of any change or new appointment.
    [24]  Under SRS 520.0, an RSE licensee must notify APRA within 14 days if it assesses that a responsible person is