Document ID: chunk:federal_register_of_legislation:F2023L01242:body:0:p12
Version: federal_register_of_legislation:F2023L01242
Segment Type: other
Provision Reference: 
Character Range: 31951–34097

of directors or group of individual trustees of an RSE licensee, as applicable. 'Group of individual trustees' has the meaning given in subsection 10(1) of the SIS Act. A reference to the Board in the case of a foreign ADI is a reference to the senior officer outside Australia.
    [9]  Senior manager in relation to life insurers has the meaning given in the Life Insurance Act, `and in relation to RSE licensees has the meaning given in Prudential Standard SPS 520 Fit and Proper.
    [10]  Refer to Prudential Standard SPS 515 Strategic Planning and Member Outcomes for requirements applying to an RSE licensee with respect to strategic objectives and business planning.
    [11]  A notification of an information security incident reported under CPS 234 does not need to be separately reported under the notification requirements of this Prudential Standard.
    [12]  An entity may have a number of BCPs. A BCP may include separate crisis management plans and disaster recovery plans.
    [13]  Capabilities required to execute the BCP may be maintained within the APRA-regulated entity or via an agreement with another party. For the avoidance of doubt, such agreements with other parties must meet the requirements for management of service providers arrangements in this Prudential Standard.
    [14]  A fourth party is a party that a service provider relies on in delivering services to an APRA-regulated entity.
    [15]   A material service provider may be a third party, related party or connected entity. A service provider may be identified as material as a result of an individual arrangement or multiple arrangements with an APRA-regulated entity.
    [16]  Material offshoring arrangement means a material arrangement where the service provided is undertaken outside Australia. Offshoring includes arrangements where the service provider is incorporated in Australia, but the physical location of the service being provided is undertaken outside Australia. Offshoring does not include arrangements where the physical location of a service is performed within Australia, but the service provider is not incorporated in Australia.