Document ID: chunk:federal_register_of_legislation:F2024L00940:body:0:p9
Version: federal_register_of_legislation:F2024L00940
Segment Type: other
Provision Reference: 
Character Range: 22296–24432

the SIS Act.
[7]  For the purposes of this Prudential Standard, a reference to 'demonstrate' includes being able to prove or show both in written form and in practice.
[8]  Refer to section 52(2)(i) of the SIS Act for the requirement to formulate, review regularly and give effect to a strategy for the prudential management of reserves held in an RSE.
[9]  For the avoidance of doubt, this requirement does not apply to financial resources held in compliance with Prudential Standard SPS 114 Operational Risk Financial Requirement.
[10]  For the purposes of this Prudential Standard, 'expenditure' means a payment or expected future payment from the assets of an RSE or RSE licensee, including payments to and from reserves, not otherwise allocated to members' accounts.
[11]  Refer to section 52AA of the SIS Act.
[12]  Refer to CPS 190 for requirements relating to actions required for the recovery and exit of the RSE licensee. It is open to an RSE licensee to develop a single document to meet the requirements of CPS 190 and this Prudential Standard.
[13]  Refer to regulation 11.08 of the SIS Regulations for a requirement to provide APRA with a written notice of a decision to undertake a successor fund transfer.
[14]  For the purposes of this Prudential Standard, 'asset' has the meaning given in section 10(1) of the SIS Act and 'MySuper product assets' includes any asset or assets of the RSE that are attributed to the MySuper product, including any corresponding member benefits attributed to the MySuper product.
[15]  Refer to section 29U(1) of the SIS Act for APRA's ability to cancel an RSE licensee's authority to offer a MySuper product.
[16]  Refer to section 29SAB of the SIS Act.
[17]  For the avoidance of doubt, an RSE licensee may nominate more than one receiving MySuper product in its MySuper product assets transfer preparations.
[18]  Refer to sections 52(9) to (11) of the SIS Act.
[19]  Refer to section 60C(2) of the SIS Act.
[20]  Refer to Prudential Standard SPS 220 Risk Management.
[21]  An RSE licensee must also document the Australian Business Number of the RSE for the receiving MySuper product.