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Prudential Rule Archives

As part of the Government's response to Rethinking Regulation: the Report of the Taskforce on Reducing Regulatory Burdens on Business (Rethinking Regulation), the Financial Sector Legislation Amendment (Simplifying Regulation and Review) Act 2007 (SRR Act) made significant changes to the Life Act. This included the requirement that prudential rules be phased out by 1 July 2011 and replaced by prudential standards.
 
Accordingly, APRA has converted the prudential rules to prudential standards, namely Prudential Standard LPS 600 Statutory Funds and Prudential Standard LPS 700 Friendly Society Benefit Funds.
 
Number
Title
Application
PR12
PR12ES
Restricted Investment Returns
Explanatory Statement
All life companies
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
Financial Statements
Explanatory Statement
Schedule 1
Schedule 2 Part 1
Schedule 2 Part 2
Schedule 2 Part 3
Life companies other than friendly societies
Participating, Non-Participating Benefits (see Note 1)
Explanatory Statement
Life companies other than friendly societies
Requirement for Report of Reinsurance Arrangements
Explanatory Statement
All life companies
PR24
PR24ES
Reinsurance Contracts Needing Approval
Explanatory Statement
All life companies
Collection of Statistics (Dec 2005 version - see Note 2)
Explanatory Statement
Life companies other than friendly societies
PR26
PR26ES
Collection of Statistics (Aug 2005 version)
Explanatory Statement (Aug 2005 version)
Life companies other than friendly societies
PR26
PR26ES
Collection of Statistics (1996 version)
Explanatory Statement (1996 version)
Life companies other than friendly societies
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
PR29

PR29ES
Variation of Prudential Rules No 26 - Collection of Statistics
Explanatory Statement
Life companies other than friendly societies
Variation of all Commissioner's Rules in Force Immediately Before APRA Commencement
Explanatory Statement
All life companies
PR31

PR31ES
PR31SC1
PR31SC2
Variation of Prudential Rules No 25 - Annual Statistical Returns
Explanatory Statement
Schedule 1 Part 1
Schedule 1 Part 2
Life companies other than friendly societies
PR32

PR32ES
PR32SC
Variation of Prudential Rules No 26 - Collection of Statistics
Explanatory Statement
Schedule
Life companies other than friendly societies
PR33

PR33ES
Variation of Prudential Rules No 26 - Collection of Statistics
Explanatory Statement
Life companies other than friendly societies
PR34
PR34ES
Repeal and Application of Prudential Rules
Explanatory Statement
Life companies other than friendly societies
Financial Statements (Dec 2005 version - see Note 2)
Explanatory Statement
Financial Statements (March 1999 version) (see Note 1)
Variation (No.2) of Prudential Rules No35 (March 1999 version) (see Note 2)
Explanatory Statement (March 1999 version)Schedule 1 (March 1999 version)
Schedule 2 (March 1999 version)
Schedule 2 Part 2 (March 1999 version)Prudential Rules 35 Schedule 1 Illustration (March 1999 version)
Prudential Rules 35 Schedule 2 Illustration (March 1999 version)
Life companies other than friendly societies
Restructure of Statutory Funds (effective until 30 June 2011) ​All life companies
Termination of Statutory Funds (effective until 30 June 2011) ​Friendly societies
Restructure and Termination of Statutory Funds - Transitional Matters (effective until 30 June 2011) ​All life companies
Adequate Adoption of Benefit Fund Rules or Amendments of Approved Benefit Fund Rules (effective until 30 June 2011) ​Friendly societies
Approval of Benefit Fund Rules Variation of Prudential Rule No 40* (effective until 30 June 2011) ​Friendly societies
Approval of Amendment of Approved Benefit Fund Rules* (effective until 30 June 2011) ​Friendly societies
Approval of Amendment of Approved Benefit Fund Rules as Required by APRA (effective until 30 June 2011) ​Friendly societies
Approval of Consequential Amendments of Company's Constitution (effective until 30 June 2011) ​Friendly societies
Approval of Consequential Amendments of Company's Constitution as Required by APRA (effective until 30 June 2011) ​Friendly societies
Joint Investments of Friendly Society Approved Benefit Funds (effective until 30 June 2011) ​Friendly societies
Single Bank Account for Friendly Society Approved Benefit Funds (effective until 30 June 2011) ​Friendly societies
Friendly Society Financial Statements (April 2006 version - see Note 2)
Explanatory Statement
Friendly societies
PR47

PR47V
PR47(Var 2)
PR47(Var 3)
PR47(Var 4)
Friendly Society Financial Statements (Aug 1999 version)
Variation (June 2001)
Variation (June 2002)
Variation (May 2003)
Variation (January 2004)
Friendly societies
PR47 (Feb 2005 version) Friendly societies
PR48

PR48ES
Collection of Statistics - Friendly Societies (June 1999 version)
Explanatory Statement (June 1999 version)
Friendly societies
PR48

PR48ES
Collection of Statistics - Friendly Societies (April 2006 version)
Explanatory Statement (April 2006 version)
Friendly societies
PR48

PR48ES
Collection of Statistics - Friendly Societies (Aug 2005 version)
Explanatory Statement (Aug 2005 version)
Friendly societies
Contract Classification for the purpose of regulatory reporting to APRA (Dec 2005 version)
Explanatory Statement
All life companies
​Revised Starting Amounts (view explanatory statement here) (effective until 30 June 2011)
All life companies other than friendly societies
 
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: These are the CONSOLIDATED versions of PR 26, 35, 47 and 48 that provide for post IFRS arrangements.
 
Note 3: The variations to PR No 35 were made because those Prudential Rules contained typographical errors. For ease of use only consolidated versions are included in this table.
 
Note 4: 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.