Document ID: chunk:federal_register_of_legislation:F2019L00646:body:0:p19
Version: federal_register_of_legislation:F2019L00646
Segment Type: other
Provision Reference: 
Character Range: 49291–52296

of the friendly society who has been authorised for that purpose by the principal executive officer, if the principal executive officer has notified APRA in writing of the authorisation.

    Name               Position title

    Signature       Date

Please send completed form and accompanying documents to your responsible supervisor.

Schedule 1 to Form 5

Specified documents required to be lodged with Form 5
     1. A statement of the nature of the proposed restructure and terms and conditions on which the restructure is to take place. The statement must, unless otherwise advised by APRA, include the following information:

       (a)          the name of each fund that is to be involved in the restructure, any proposed change in the name of any such fund and the proposed name of any new fund;

       (b)          the date from which the restructure is proposed to have effect;

       (c)          the reasons for the proposed restructure;

       (d)          the effect of the proposed restructure on the interests of the members of each fund that is to be involved in the restructure;

       (e)          the assets and undertakings of, and liabilities referable to, each transferring fund that will become assets and undertakings of and liabilities referable to a receiving fund, in accordance with the report of the Appointed Actuary given under item 3 of this Schedule;

       (f)           the category or categories of members of each transferring fund that, under the restructure, will become members of a receiving fund;

       (g)          any interest that any officer of the society has in the proposed restructure;

       (h)          any compensation or other consideration proposed to be paid, or any other incentive proposed to be given, to any officer or member of the society in relation to the proposed restructure;

       (i)            if applicable, an estimate of the rate of any bonuses payable from each fund up to the date on which it is proposed that the restructure will take effect;

       (j)            in the case of a transfer of part of a fund, details of any reserves that the society proposes to retain in the fund in accordance with the recommendations of the Appointed Actuary;

       (k)          whether there has been any material change to the financial position of the fund since the date at which the profit and loss statements or balance sheets were prepared under item 2 of this Schedule; and

       (l)            such other information as APRA requires.

    2.             Unless APRA determines in writing that they are not required, the most recent audited:

       (a)          profit and loss statement; and

       (b)          balance sheet

    prepared in accordance with the relevant reporting standards applicable to friendly societies made by APRA under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 for each fund that is to be involved in the restructure, provided