Document ID: chunk:federal_register_of_legislation:F2024L01053:front:0:p27
Version: federal_register_of_legislation:F2024L01053
Segment Type: other
Provision Reference: 
Character Range: 71744–74680

benefit fund of a friendly society.
    [LI] stressed policy liabilities is as defined in Prudential Standard LPS 115 Capital Adequacy: Insurance Risk Charge.
    [ADI, GI] subsidiary has the meaning in the Corporations Act.
    [PHI] substantial shareholder means a person with a substantial holding within the meaning given by section 9 of the Corporations Act.
    [LI] superannuation business is as defined in the Life Insurance Act.
    [GI] supervisory adjustment is as defined in Prudential Standard GPS 110 Capital Adequacy.
    [LI] supervisory adjustment is as defined in Prudential Standard LPS 110 Capital Adequacy.
    [PHI] supervisory adjustment is as defined in Prudential Standard HPS 110 Capital Adequacy.
    [LI] term certain annuity is an annuity that is not unbundled investment business and is not a variable annuity, where the next annuity payment is due within 12 months and payments continue for a fixed term that is not dependent on the survival of the life insured.
    [PHI] terminating management has the same meaning as in the PHIPS Act.
    [LI] termination value is as defined in Prudential Standard LPS 360 Termination Values, Minimum Surrender Values and Paid-up Values.
    [ADI] third party means an entity that is not the ADI or a related body corporate of the ADI.
    [ADI] Tier 1 Capital is as defined in Prudential Standard APS 111 Capital Adequacy: Measurement of Capital.
    [GI] Tier 1 Capital is as defined in Prudential Standard GPS 112 Capital Adequacy: Measurement of Capital.
    [LI] Tier 1 Capital is as defined in Prudential Standard LPS 112 Capital Adequacy: Measurement of Capital.
    [PHI] Tier 1 Capital is as defined in Prudential Standard HPS 112 Capital Adequacy: Measurement of Capital.
    [ADI] Tier 2 Capital is as defined in Prudential Standard APS 111 Capital Adequacy: Measurement of Capital.
    [GI] Tier 2 Capital is as defined in Prudential Standard GPS 112 Capital Adequacy: Measurement of Capital.
    [LI] Tier 2 Capital is as defined in Prudential Standard LPS 112 Capital Adequacy: Measurement of Capital.
    [PHI] Tier 2 Capital is as defined in Prudential Standard HPS 112 Capital Adequacy: Measurement of Capital.
    [ADI] Total Capital is as defined in Prudential Standard APS 111 Capital Adequacy: Measurement of Capital.
    [LI] traditional business refers to whole of life and endowment policies with either a single premium or with regular premiums that are level throughout the term for which premiums are payable. Regular premiums are level if each premium is the same, or if the premium can only be increased due to indexation of the sum insured or policy fee, or because the life company increases its premium rates. Traditional business excludes funeral bond business, unbundled investment business, fixed term/rate business and annuity business.
    [LI] unbundled investment business refers to life business that is not risk business, where