Commonwealth Consolidated Acts

LIFE INSURANCE ACT 1995 - SECT 47

  (1)   The prudential standards may specify:

  (a)   what constitutes income of a statutory fund; and

  (b)   what constitutes outgoings of a statutory fund.

  (2)   If prudential standards are made for the purposes of subsection   (1), then, for the purposes of this Act:

  (a)   what constitutes income of a statutory fund must be determined in accordance with the prudential standards; and

  (b)   what constitutes outgoings of a statutory fund must be determined in accordance with the prudential standards.