Document ID: chunk:federal_register_of_legislation:F2015L01291:body:0:p12
Version: federal_register_of_legislation:F2015L01291
Segment Type: other
Provision Reference: 
Character Range: 31490–34314

purposes of this item, the value reported must equal the audited net assets available for members' benefits reported in item 21.

                   If an RSE has a balance date of 30 June, and the assets of the RSE consist entirely of individual policies and the audited net assets available for members' benefits as at 30 June is not known by the insurer, report the notional balance of the RSE, as at 30 June, in item 25.2; otherwise, leave item 25.2 blank.

                   If an RSE has a balance date other than 30 June, report the value of the unaudited estimate of the net assets available for members' benefits of the RSE, as at 30 June, in item 25.3; otherwise, leave item 25.3 blank. Note – this asset value will not be the 'balance date' asset value reported in item 21.

                   For early balancing RSEs (i.e. the RSE's balance date is before the relevant 30 June balance date that is being reported. This covers entities with a balance date between 1 January and 29 June): report the unaudited estimated of net assets available for members' benefits in item 25.3 as at the 30 June that immediately follows the RSE's balance date.

                   For late balancing RSEs (i.e. the RSE's balance date is after the relevant 30 June balance date that is being reported. This covers entities with a balance date between 1 July and 31 December): report the unaudited estimated net assets available for members' benefits in item 25.3 as at the 30 June that immediately precedes the RSE's balance date.

Individual policy  Represents an insurance policy over the life of one person.

Notional balance   Represents $20,000 multiplied by the number of lives insured.

Interpretation

For the purposes of these instructions:

     * defined benefit RSE means an RSE that is a defined benefit fund within the meaning given in Prudential Standard SPS 160 Defined Benefit Matters;

     * eligible rollover fund (ERF) has the meaning given in section 10(1) of the SIS Act;

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

     * pooled superannuation trust (PST) has the meaning given in section 10(1) of the SIS Act;

     * RSE means a registrable superannuation entity as defined in section 10(1) of the SIS Act that is not a defined benefit RSE, PST, ERF, small APRA fund or single member approved deposit fund[6];

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

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

     * SIS Regulations means Superannuation Industry (Supervision) Regulations 1994.

    [1]  For the purposes of this Reporting Standard, an 'RSE licensee's business operations' includes all activities as an RSE licensee