Document ID: chunk:federal_register_of_legislation:C2004C01110:clause:4_27
Version: federal_register_of_legislation:C2004C01110
Segment Type: clause
Provision Reference: sch 4 cl 27
Character Range: 184409–185087

27  After subsection 70(1)
Insert:

 (1A) The capital adequacy standard may be so expressed as to set different standards of capital adequacy:
 (a) for statutory funds of different companies; or
 (b) for different classes of statutory funds; or
 (c) to have effect in relation to a statutory fund in circumstances specified in the capital adequacy standard.

 (1B) Without limiting subsections (1) and (1A), the capital adequacy standard may provide that, in specified circumstances, a life company is taken to comply with the capital adequacy standard in respect of a statutory fund if it complies with the solvency standard under Division 1 in respect of the statutory fund.