Document ID: chunk:federal_register_of_legislation:F2019L00646:body:0:p20
Version: federal_register_of_legislation:F2019L00646
Segment Type: other
Provision Reference: 
Character Range: 52033–55166

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    prepared in accordance with the relevant reporting standards applicable to friendly societies made by APRA under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 for each fund that is to be involved in the restructure, provided that they were prepared at a date no earlier than six months before the date of the application under paragraph 53 of this Prudential Standard.

    3.             A report by the Appointed Actuary on the proposed restructure, including:

       (a)          in relation to a restructure that does not consist of a transfer of all the assets and liabilities from a single transferring fund to a single receiving fund:

           (i)            a statement setting out the basis on which the nature and value of the assets to be transferred is to be determined; and

           (ii)         a statement as to whether the assets to be transferred are appropriate to the liabilities to be transferred;

       (b)          a statement as to whether the restructure will result in unfairness to the owners of the policies referable to any of the funds involved in the restructure; and

       (c)          a statement as to whether, immediately after the restructure, a transferring fund and receiving fund will satisfy the requirements of LPS 110 and LPS 112.

    4.             A copy of:

       (a)          any proposed new benefit fund rules;

       (b)          any proposed amendments to approved benefit fund rules; and

       (c)          any proposed consequential amendments to the constitution of the friendly society in order to recognise the restructure.

    5.             A copy of the notice proposed to be issued by the friendly society to notify members of each fund involved in the restructure, as required by paragraph 68 of this Prudential Standard.

    6.             A certificate signed by the directors of the friendly society certifying that, having regard to all matters relevant to the proposed restructure, the directors consider that the restructure would be in the interests of the members of each fund that is to be involved in the restructure.

Form 6: Termination of approved benefit funds

     1. Name and Australian business number of friendly society

    2.             Name of the approved benefit fund that the friendly society proposes to terminate

    3.             Date from which the approved benefit fund termination is proposed to take effect

    4.             Required documentation

    By indicating 'Yes' below, the signatory to this form confirms that the documents mentioned in Schedule 1 to this form have been attached.

        Yes      No

    5.             Contact person

    Please provide the contact details for the person to whom enquiries relating to this application should be directed.

    Name

    Position title

    Phone

    Email address

    6.  Address for correspondence

    Please provide the address to which correspondence relating to this application should be mailed.

    7. Signatures

    This form must be signed by:

       (a)