Document ID: chunk:federal_register_of_legislation:F2023L00264:body:0:p5
Version: federal_register_of_legislation:F2023L00264
Segment Type: other
Provision Reference: 
Character Range: 12882–15990

joint venture or associate.

  1(4).        Description / nature of business

This column provides a brief description of the main business conducted by the subsidiary, joint venture or associate.

  1(5).        Country of incorporation

This column reports the country in which the subsidiary, joint venture or associate is incorporated.

  1(6).        Total assets

This column reports the total assets of the subsidiary, joint venture or associate as reported on its statement of financial position.

  1(7).        Value of investment net of goodwill and other intangibles

This column reports the value of the investment in the subsidiary, joint venture or associate as reported on the life company's statement of financial position, adjusted for goodwill and intangible assets.

  1(8).        Ownership percentage (%)

This column reports the percentage of ownership interest held by the reporting life company in the subsidiary, joint venture or associate.

Figures are to be reported in percentage points.

  1(9).        Goodwill

This is the value of goodwill reported on the statement of financial position of the subsidiary, joint venture or associate, net of adjustments to profit or loss reflecting changes arising from any impairment.

The amounts reported must be net of any associated deferred tax liability that would be extinguished if the assets involved become impaired or derecognised under Australian Accounting Standards.

  1(10).   Other intangibles

This is the value of intangible assets, other than goodwill reported on the statement of financial position of the subsidiary, joint venture or associate, net of adjustments to profit or loss reflecting changes arising from any impairment and amortisation. The amounts reported must be net of any associated deferred tax liability that would be extinguished if the assets involved become impaired or derecognised under Australian Accounting Standards.

  1(11).   Adjustment for goodwill / other intangibles

This column reports the amount of regulatory adjustments applied in respect of goodwill (net of impairment) and other intangible assets (net of impairment) in relation to investments in subsidiaries, joint ventures and associates as required by Prudential Standard LPS 112 Capital Adequacy: Measurement of Capital (LPS 112).

This adjustment is automatically calculated as column 8 multiplied by the sum of  columns 9 and 10.

  1(12).   Nature of regulatory capital requirement

This column reports the nature of the regulatory capital requirement (if any) of the subsidiary, joint venture or associate.  An appropriate category is to be selected from the drop-down box, which is either:

    * the prescribed capital amount if the investment is in a life company as defined under the Life Insurance Act 1995;

    * the equivalent amount to the prescribed capital amount if the investment is an entity carrying on life insurance business in a foreign jurisdiction;

    * a comparable regulatory capital requirement as agreed with APRA; or

    * no regulatory capital requirement.

  1(13).