Document ID: chunk:federal_register_of_legislation:F2023L00587:body:0:p5
Version: federal_register_of_legislation:F2023L00587
Segment Type: other
Provision Reference: 
Character Range: 10764–13855

underwriter as defined under the Insurance Act is an APRA-authorised reinsurer if it carries on reinsurance business. The Australian Reinsurance Pool Corporation is also an APRA-authorised reinsurer for the purposes of this definition;

       capital standards means the prudential standards which relate to capital adequacy as defined in GPS 001;

       Chief Financial Officer means the chief financial officer of the parent entity of a Level 2 insurance group, by whatever name called;

       financial year means the financial year (within the meaning in the Corporations Act 2001) of the parent entity of a Level 2 insurance group;

       foreign insurer means a foreign general insurer within the meaning of the Insurance Act;

       Note: A reference to a 'branch' or 'branch operation' is a reference to the Australian operations of a foreign insurer.

       general instruction guide refers to the general instruction guide set out in Attachment A of GRS 001;

       Group Auditor has the meaning given in GPS 310;

       Insurance Act means the Insurance Act 1973;

       insurer means a general insurer within the meaning of section 11 of the Insurance Act;

       Note: In this Reporting Standard, a reference to an 'authorised insurer', 'authorised insurance entity' or 'licensed insurer' is a reference to an insurer, and a reference to an 'authorised reinsurance entity' is a reference to an insurer whose business consists only of undertaking liability by way of reinsurance.

       non-APRA-authorised reinsurer means any reinsurer that is not an APRA-authorised reinsurer;

       Principal Executive Officer means the current principal executive officer of the entity, by whatever name called, and whether or not he or she is a member of the governing board of the entity; and

       reporting period means a period mentioned in subparagraph 6(a) or 6(b) or, if applicable, paragraph 7.

    19.         Unless the contrary intention appears, a reference to an Act, Prudential Standard, Reporting Standard, Australian Accounting or Auditing Standard is a reference to the instrument as in force from time to time.

Reporting Standard GRS 300.0.G

Statement of Financial Position

General instructions

These instructions assist completion of the Reporting Standard GRS 300.0.G Statement of Financial Position, which collects information relating to the Level 2 insurance group statement of financial position.

Reporting tables

Tables described in this reporting standard list each of the data fields required to be reported. The data fields are listed sequentially in the column order that they will appear in the reported data set. Constraints on the data that can be reported for each field have also been provided.

General accounting basis

Unless otherwise specifically stated, reporting insurers are to report in accordance with the relevant Australian Accounting Standards.

References to Australian Accounting Standards

Each item reported under this Reporting Standard aligns with the Accounting Standards made by the Australian