Document ID: chunk:federal_register_of_legislation:F2024L01053:front:0:p17
Version: federal_register_of_legislation:F2024L01053
Segment Type: other
Provision Reference: 
Character Range: 44552–47282

consolidation of the ADI and all its subsidiary entities other than non-consolidated subsidiaries; or
 2.           if the ADI is a subsidiary of an authorised NOHC, the consolidation of the immediate parent NOHC of the ADI and all the immediate parent NOHC's subsidiary entities (including any ADIs and their subsidiary entities) other than non-consolidated subsidiaries;
unless APRA otherwise determines, in writing, a different Level 2 composition for a group of companies of which the ADI is a member.
    [ADI] Level 2 group means the entities that comprise Level 2.
    [GI] Level 2 group means the entities that comprise a Level 2 insurance group.
    [ADI] Level 2 Head means:
 1.           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; or
 2.           where an ADI that is a member of a Level 2 group is a subsidiary of an authorised banking NOHC, that authorised banking NOHC.
    [GI] Level 2 Head means the parent entity of a Level 2 insurance group.
    [GI] Level 2 insurance group is as defined in Attachment A to this Prudential Standard.
    [ADI, GI, LI] Level 3 group means the institutions determined by APRA to be members of a Level 3 group, whether determined by reference to individual institutions and/or classes of institution.
    APRA may determine a Level 3 group where it considers that material activities are performed within the group across more than one prudentially regulated industry and/or in one or more non-prudentially regulated industries, to ensure that the ability of the group's prudentially regulated institutions to meet their obligations to depositors, policyholders or RSE beneficiaries is not adversely impacted by risks emanating from the group, including its non-prudentially regulated institutions.
    [ADI] Level 3 Head means an ADI or authorised NOHC under the Banking Act determined by APRA to be Level 3 Head of a Level 3 group.
    [GI] Level 3 Head means a general insurer or authorised NOHC under the Insurance Act determined by APRA to be Level 3 Head of a Level 3 group.
    [LI] Level 3 Head means a life company or registered NOHC under the Life Insurance Act determined by APRA to be Level 3 Head of a Level 3 group.
    [ADI, GI, LI] Level 3 institution means an institution that is a member of the Level 3 group.
    [ADI] Level 3 means the conglomerate group at the widest level.
    [LI] life business has the meaning given in the Dictionary to the Life Insurance Act.
    [LI] life company has the meaning given in the Dictionary to the Life Insurance Act.
    [LI] Life Insurance Act means the Life Insurance Act 1995.
    [LI] life insurance contract means an insurance contract