Document ID: chunk:federal_register_of_legislation:F2019L00669:body:0:p1
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Banking, Insurance, Life Insurance and Health Insurance (prudential standard) determination No.1 of 2019

Prudential Standard CPS 220 Risk Management

Banking Act 1959
Insurance Act 1973
Life Insurance Act 1995
Private Health Insurance (Prudential Supervision) Act 2015

I, Pat Brennan, delegate of APRA:
    (a)                under subsection 11AF(3) of the Banking Act 1959 REVOKE Banking, Insurance, Life Insurance and Health Insurance (prudential standard) determination No. 1 of 2017, including Prudential Standard CPS 220 Risk Management made under that Determination;

    (b)               under subsection 32(4) of the Insurance Act 1973 REVOKE Banking, Insurance Life Insurance and Health Insurance (prudential standard) determination No. 1 of 2017, including Prudential Standard CPS 220 Risk Management made under that Determination;

    (c)                under subsection 230A(5) of the Life Insurance Act 1995 REVOKE Banking, Insurance Life Insurance and Health Insurance (prudential standard) determination No. 1 of 2017, including Prudential Standard CPS 220 Risk Management made under that Determination;

    (d)               under subsection 92(5) of the Private Health Insurance (Prudential Supervision) Act 2015 REVOKE Banking, Insurance, Life Insurance and Health Insurance (prudential standard) determination No. 1 of 2017, including Prudential Standard CPS 220 Risk Management made under that Determination;

    (e)                under subsection 11AF(1) of the Banking Act 1959 DETERMINE Prudential Standard CPS 220 Risk Management in the form set out in the Schedule, to the extent that it applies to all ADIs and authorised banking NOHCs;

    (f)                under subsection 32(1) of the Insurance Act 1973 DETERMINE Prudential Standard CPS 220 Risk Management in the form set out in the Schedule, to the extent that it applies to all general insurers, authorised insurance NOHCs, and subsidiaries of general insurers and authorised insurance NOHCs;

    (g)               under subsection 230A(1) of the Life Insurance Act 1995 DETERMINE Prudential Standard CPS 220 Risk Management in the form set out in the Schedule, which applies to all life companies, friendly societies, registered life NOHCs, and subsidiaries of life companies and registered life NOHCs; and

    (h) under subsection 92(1) of the Private Health Insurance (Prudential Supervision) Act 2015 DETERMINE Prudential Standard CPS 220 Risk Management in the form set out in the Schedule, to the extent that it applies to all private health insurers.

This instrument commences on 1 July 2019

Dated: 3 May 2019

[Signed]

Pat Brennan

Executive General Manager
Policy and Advice Division

Interpretation

      In this Determination:

    ADI has the meaning given in section 5 of the Banking Act 1959.

APRA means the Australian Prudential Regulation Authority.

authorised banking NOHC has the meaning given to the expression authorised NOHC in section 5 of the Banking Act 1959.

authorised insurance NOHC has the meaning given to the expression authorised NOHC in subsection 3(1) of the Insurance Act 1973.

    friendly society has the meaning given in section 16C of