ARCHIVED CONTENT

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
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
PR 21 PR 21 ES PR 21 SC 1 PR 21 SC 2 Pt 1 PR 21 SC 2 Pt 2 PR 21 SC 2 Pt 3	Financial Statements Explanatory Statement Schedule 1 Schedule 2 Part 1 Schedule 2 Part 2 Schedule 2 Part 3	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 (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
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
PR29 PR29ES	Variation of Prudential Rules No 26 - Collection of Statistics 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
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
PR35 PR35ES PR35 PR35V PR35ES PR35SC1 PR35SC2 PR35SC2K PR35 S1 ill PR35 S2 ill	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
PR 36	Restructure of Statutory Funds (effective until 30 June 2011)	All life companies
PR 37	Termination of Statutory Funds (effective until 30 June 2011)	Friendly societies
PR 38	Restructure and Termination of Statutory Funds - Transitional Matters (effective until 30 June 2011)	All life companies
PR 39	Adequate Adoption of Benefit Fund Rules or Amendments of Approved Benefit Fund Rules (effective until 30 June 2011)	Friendly societies
PR 40	Approval of Benefit Fund Rules Variation of Prudential Rule No 40* (effective until 30 June 2011)	Friendly societies
PR 41	Approval of Amendment of Approved Benefit Fund Rules* (effective until 30 June 2011)	Friendly societies
PR 42	Approval of Amendment of Approved Benefit Fund Rules as Required by APRA (effective until 30 June 2011)	Friendly societies
PR 43	Approval of Consequential Amendments of Company's Constitution (effective until 30 June 2011)	Friendly societies
PR 44	Approval of Consequential Amendments of Company's Constitution as Required by APRA (effective until 30 June 2011)	Friendly societies
PR 45	Joint Investments of Friendly Society Approved Benefit Funds (effective until 30 June 2011)	Friendly societies
PR 46	Single Bank Account for Friendly Society Approved Benefit Funds (effective until 30 June 2011)	Friendly societies
PR47 PR47ES	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
PR49 PR49ES	Contract Classification for the purpose of regulatory reporting to APRA (Dec 2005 version) Explanatory Statement	All life companies
PR 50	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.