Document ID: chunk:federal_register_of_legislation:F2018L01390:body:0:p17
Version: federal_register_of_legislation:F2018L01390
Segment Type: other
Provision Reference: 
Character Range: 44500–47213

of this Attachment do not apply to a subsidiary that is an RSE licensee.

[1] Note, for the purposes of this Prudential Standard, an RSE licensee is not treated as an 'APRA-regulated institution'. Refer to Prudential Standard SPS 520 Fit and Proper (SPS 520) for fitness and propriety requirements for an RSE licensee.
[2] Where a Level 2 group operates within a Level 3 group, a requirement expressed as applying to a Head of a group is to be read as applying to the Level 3 Head.
[3] Refer to subsection 5(1) of the Banking Act in relation to ADIs and authorised banking NOHCs, subsection 3(1) of the Insurance Act in relation to general insurers and authorised insurance NOHCs, and section 8 of the Life Insurance Act in relation to life companies and registered life NOHCs.
[4] Refer to paragraph 17(2)(b) of the Banking Act in relation to ADIs and authorised banking NOHCs, paragraphs 39(3)(a) and 43(2)(c), and subparagraph 44(1)(a)(iii), of the Insurance Act in relation to general insurers and authorised insurance NOHCs, and section 84 and subsection 93(3) of the Life Insurance Act in relation to life companies and registered life NOHCs.
[5] Refer to paragraph 23(2)(b) of the Banking Act in relation to ADIs and authorised banking NOHCs, paragraphs 25A(3)(b), 27(2)(b), 43(2)(b), 44(3)(b) and 49R(3)(b), and subparagraph 44(1)(a)(ii), of the Insurance Act in relation to general insurers and authorised insurance NOHCs, and section 245A(3)(b) of the Life Insurance Act in relation to life companies and registered life NOHCs.
[6] Refer to paragraph 24 for the definition of responsible person position.
[7] A reference to the Board in the case of a foreign ADI is a reference to the senior officer outside Australia.
[8] Refer to Prudential Standard CPS 220 Risk Management.
[9] Related body corporate has the meaning given in section 50 of the Corporations Act 2001 (Corporations Act).
[10] This paragraph does not override any requirements in SPS 520 applying to an RSE licensee.
[11]  For the purposes of an 'officer' as defined in subsection 4(1) of the PHIPS Act, in this case excluding a CEO or director.
[12] Paragraphs 25(a) and (b) are intended to be interpreted consistently with the definition of 'senior manager' (in relation to a corporation) in section 9 of the Corporations Act.
[13] Refer to subsection 5(1) of the Banking Act, subsection 3(1) of the Insurance Act and section 8 of the Life Insurance Act.
[14]  In relation to section 4(1) of the PHIPS Act, only category (c) in the definition of 'officer' is relevant here.
[15] Paragraphs 27(a) and (b) are intended to be interpreted consistently with the definition of 'senior manager' (in relation to a corporation) in section 9 of