Life Insurance (prudential standard) determination No. 1 of 2007 Prudential Standard LPS 231 Outsourcing (Cth)

Life Insurance (prudential standard) determination No.1 of 2007

Prudential Standard LPS 231 Outsourcing

Life Insurance Act 1995

I, John Roy Trowbridge, Member of APRA, delegate of APRA, under subsection 230A(5) of the Life Insurance Act 1995  (the Act), VARY Prudential Standard LPS 231 Outsourcing by deleting:

(i)      the footnote reference immediately after the word “framework” in line 1 of paragraph 14; and

(ii)     footnote 3 at the bottom of page 3.

This determination takes effect on the later of 1 January 2008 and the date of registration on the Federal Register of Legislative Instruments.

Dated  23 March 2007

Signed

John Trowbridge

Member

Interpretation

In this Instrument

APRA means the Australian Prudential Regulation Authority.

Federal Register of Legislative Instruments means the register established under section 20 of the Legislative Instruments Act 2003.

Note 1 Under subsection 230A(5) of the Act, APRA may, in writing, vary or revoke a prudential standard determined by APRA under the Act.