Document ID: chunk:federal_register_of_legislation:F2018L01390:body:0:p4
Version: federal_register_of_legislation:F2018L01390
Segment Type: other
Provision Reference: 
Character Range: 8561–11410

the 'Head of a group',[2] it must comply with a requirement of this Prudential Standard:
       (a)          in its capacity as an APRA-regulated institution;
       (b)          by ensuring that a requirement is applied appropriately throughout the group, including in relation to institutions that are not APRA-regulated; and
       (c)          where specified, on a group basis.
In applying the requirements of this Prudential Standard on a group basis, references in paragraphs 12 to 16 and 25 to 61 to an 'APRA-regulated institution' should be read as 'Head of a group' and references to 'institution' should be read as 'group'.
5.             This Prudential Standard commences on 1 July 2019.

Interpretation
6.             Terms that are defined in Prudential Standard 3PS 001 Definitions, Prudential Standard APS 001 Definitions (APS 001), Prudential Standard GPS 001 Definitions (GPS 001), Prudential Standard LPS 001 Definitions or Prudential Standard HPS 001 Definitions (HPS 001) appear in bold the first time they are used in this Prudential Standard.
7.             Where this Prudential Standard provides for APRA to exercise a power or discretion, this power or discretion is to be exercised in writing.
8.             For the purposes of this Prudential Standard:
'group' means a Level 2 group or a Level 3 group, as relevant;
'Head of a group' means a Level 2 Head or Level 3 Head, as relevant;
'Level 2 group' means the entities that comprise:
       (a)          Level 2 as defined in APS 001; or
       (b)          a Level 2 insurance group as defined in GPS 001;
Level 2 Head' means:
       (a)          where an ADI that is a member of a Level 2 group is not a subsidiary of an authorised banking NOHC or another ADI, that ADI;
       (b)          where an ADI that is a member of a Level 2 group is a subsidiary of an authorised banking NOHC, that authorised banking NOHC; or
       (c)          the parent entity of a Level 2 insurance group as defined in GPS 001.
9.             For the purposes of this Prudential Standard, a reference to an 'auditor' is taken to be a reference to a person holding any of the following positions unless otherwise specified:
       (a)          'Appointed auditor' has the meaning given in APS 001, in relation to an ADI or authorised banking NOHC;
       (b)          'Appointed Auditor' has the meaning given in GPS 001, in relation to a general insurer (including a Category C insurer);
       (c)          'Auditor' has the meaning given in Prudential Standard LPS 310 Audit and Related Matters (LPS 310), in relation to a life company (including an EFLIC);
       (d)          'responsible auditor' has the meaning given in GPS 001, in relation to an authorised insurance NOHC, and, in relation to a registered life NOHC, is an auditor who is required to prepare a report under the