Insurance (prudential standard) determination No. 11 of 2006 Variation to Prudential Standard GPS 510 Governance (Cth)

Insurance (prudential standard) determination No. 11 of 2006

Variation to Prudential Standard GPS 510 Governance

Insurance Act 1973

I, John Francis Laker, Chair of APRA, under subsection 32(1) of the Insurance Act 1973 and subsection 33(3) of the Acts Interpretation Act 1901, VARY prudential standard GPS 510 (determined on 5 May 2006 to take effect from 1 October 2006) in the manner set out in the Schedule.

This instrument takes effect on the date of registration on the Federal Register of Legislative Instruments.

Dated   19 December 2006

[Signed]

John Francis Laker

Chair

Interpretation

In this Determination

APRA means the Australian Prudential Regulation Authority.

Note 1                    Insurance (prudential standard) determination No. 5 of 2006 determined GPS 510.

Schedule

Variation to Prudential Standard GPS 510

a.   Paragraph 32 – after the work “framework” in line 3 add the words “unless, with respect to risk management, there is another Board Committee which carries out this function”.