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Prudential Rules


By using this site you are deemed to have read and acknowledged our disclaimer.

The Prudential Rules listed below are available in PDF format (click here for instructions).

Number

Title

Application

PR12
PR12ES
PR12SC

Restricted Investment Returns
Explanatory Statement
Schedule
All life companies
PR15

PR15ES
Consequences of Transfer of Policy between
Statutory Funds
Explanatory Statement
Life companies other than friendly societies
PR18
PR18ES
Single Bank Account for Statutory Funds
Explanatory Statement
Life companies other than friendly societies

PR22
PR22ES

Participating, Non-Participating Benefits (see Note 1)
Explanatory Statement
Life companies other than friendly societies
PR23
PR23ES
Requirement for Report of Reinsurance Arrangements
Explanatory Statement
All life companies

PR24
PR24ES

Reinsurance Contracts Needing Approval
Explanatory Statement
All life companies
PR26
PR26ES
Collection of Statistics (see Note 2)
Explanatory Statement
Life companies other than friendly societies

PR27
PR27ES

Starting Amount
Explanatory Statement
Life companies other than friendly societies

PR28
PR28ES

Distribution of Shareholders’ Retained Profits
Explanatory Statement
Life companies other than friendly societies
PR30

PR30ES
Variation of all Commissioner’s Rules In Force Immediately before APRA Commencement
Explanatory Statement
All life companies
PR34
PR34ES
Repeal and Application of Prudential Rules
Explanatory Statement
Life companies other than friendly societies
PR35
PR35ES
PR35 ill
Financial Statements (see Note 4)
Explanatory Statement
Prudential Rules 35 Illustration
Life companies other than friendly societies

PR36 

Restructure of Statutory Funds All life companies

PR37 

Termination of Statutory Funds Friendly societies

PR38 

Restructure and Termination of Statutory Funds - Transitional matters All life companies

PR39

Adequate Adoption of Benefit Fund Rules or Amendments of Approved Benefit Fund Rules Friendly societies

PR40 

Approval of Benefit Fund Rules
Variation of Prudential Rule No 40 (see Note 1)
Friendly societies

PR41 

Approval of Amendment of Approved Benefit Fund Rules Friendly societies

PR42

Approval of Amendment of Approved Benefit Fund Rules as Required by APRA Friendly societies

PR43

Approval of Consequential Amendments of Company’s Constitution Friendly societies

PR44

Approval of Consequential Amendments of Company’s Constitution as Required by APRA Friendly societies

PR45 

Joint Investments of Friendly Society Approved Benefit Funds Friendly societies

PR46 

Single Bank Account for Friendly Society Approved Benefit Funds Friendly societies
PR47
PR47ES
Friendly Society Financial Statements (see Note 3)
Explanatory Statement
Friendly societies

PR48
PR48ES

Collection of Statistics - Friendly Societies (see Note 5)
Explanatory Statement
Friendly societies

PR49

PR49ES

Contract Classification for the purpose of
regulatory reporting to APRA
Explanatory Statement
All life companies

PR50
PR50ES

Revised Starting Amounts
Explanatory Statement
All life companies other than friendly societies

Click here to view the Archived Prudential Rules

Note: Prior to the formation of the Australian Prudential Regulation Authority, the Insurance and Superannuation Commissioner issued Commissioner's Rules (CR) under the Life Insurance Act 1995. PR 30 changed the name of the pre-existing Commissioner's Rules to Prudential Rules from 1 July 1998. Therefore all references to Commissioner's Rules should be read as references to Prudential Rules.

The following Prudential Rules have been revoked and/or superseded and have been removed from this website: PR 1-11,13,14,16,17, 19 -21and 25. They are available through contacting the Australian Prudential Regulation Authority.

Note 1 The variations to Prudential Rules Nos 22 and 40 were made because those Prudential Rules contained typographical errors. For ease of use only consolidated versions are included in this table.

Note 2 This is the current CONSOLIDATED version of PR 26 that provides for post IFRS arrangements. The previous PR 26, together with PR 31, Variation of Prudential rules No 25, were revoked and replaced through Life Insurance (Prudential Rules) determination No 4 of 2005

Note 3 This is the current CONSOLIDATED version of PR 47 that provides for post IFRS arrangements. The previous PR 47 were revoked and replaced through Life Insurance (Prudential Rules) Determination No 2 of 2006.

Note 4 This is the current CONSOLIDATED version of PR 35 that provides for post IFRS arrangements. The previous PR 35 were revoked and replaced through Life Insurance (Prudential Rules) Determination No 5 of 2005

Note 5 This is the current CONSOLIDATED version of PR 48 that provides for post IFRS arrangements. The previous PR 48 were revoked and replaced through Life Insurance (Prudential Rules) Determination No 3 of 2006

Determinations

  • Life Insurance (prudential rules) Determination No 3 of 2004
  • Life Insurance (prudential rules) Determination No 3 of 2005
  • Life Insurance (prudential rules) Determination No 4 of 2005
  • Life Insurance (prudential rules) Determination No 5 of 2005
  • Life Insurance (prudential rules) Determination No 6 of 2005
  • Life Insurance (prudential rules) Determination No 7 of 2005
  • Life Insurance (Prudential Rules) Determination No 2 of 2006
  • Life Insurance (Prudential Rules) Determination No 3 of 2006


  • Authorised Deposit-Taking Institutions | General Insurance | Superannuation | Life Insurance | Friendly Societies

    Australian Prudential Regulation Authority