Document ID: chunk:federal_register_of_legislation:C2025C00135:schedule:1:p4
Version: federal_register_of_legislation:C2025C00135
Segment Type: schedule
Provision Reference: sch 1 (pt 4/6)
Character Range: 506067–508671

if the person is his or her child because of the definition of child in this section.
participating business means life insurance business that consists of the provision of participating benefits under policies.
person affected by a reviewable decision has the meaning given by section 236.
policy means a life policy, a sinking fund policy or a section 12A or 12B policy.
policy document means a document that sets out, or the documents that together set out, the terms of a contract that is a life policy, a sinking fund policy or a section 12A or 12B policy, and includes an endorsement on such a document.
policy liability, in relation to a life company, means:
 (a) a liability that has arisen under a policy; or
 (b) a liability that, subject to the terms and conditions of a policy, will arise on the happening of an event, or at a time, specified in the policy.
premium includes an instalment of premium.
principal auditor, of a life company, means an auditor appointed by the life company under subsection 83(1).
produce includes permit access to.
prudential matters means matters relating to:
 (a) the conduct of any part of the affairs of, or the structuring or organising of, a life company, a registered NOHC, a relevant group of bodies corporate, or a particular member or members of such a group, in such a way as:
 (i) to keep the life company, NOHC, group or member or members of the group in a sound financial position; or
 (ii) to facilitate resolution of the life company, NOHC, group or member or members of the group; or
 (iii) to protect the interests of policy owners of any life company; or
 (iv) not to cause or promote instability in the Australian financial system; or
 (b) the conduct of any part of the affairs of a life company, a registered NOHC, a relevant group of bodies corporate, or a particular member or members of such a group, with integrity, prudence and professional skill.
prudential standards means standards made under Division 1 of Part 10A.
recapitalisation direction means a direction given by APRA under subsection 230AB(1) or (1B).
Register means the Register of Life Companies and Non‑Operating Holding Companies kept under section 240.
registered NOHC means a body corporate that:
 (a) is registered under Division 2 (Registration of NOHCs of life companies) of Part 3; and
 (b) is a NOHC of one or more life companies.
Regulator means:
 (a) APRA if the provision in which it occurs is, or is being applied for the purposes of, a provision that is administered by APRA; and
 (b) ASIC if the provision in which it occurs is, or is being applied for the