Banking, Insurance and Life Insurance (prudential standard) determination No 2 of 2012 [F2012L02440] and three related instruments-New and Concluded Matters [2013] AUSStaCSDLM 10 (7 February 2013)

• Banking, Insurance and Life Insurance (prudential standard) determination No. 2 of 2012 [F2012L02440] and three related instruments1
• Drafting

Banking, Insurance and Life Insurance (prudential standard) determination No. 2 of 2012 [F2012L02440] and three related instruments^[1]

Purpose	The instruments determine a number of prudential standards
Last day to disallow	15/5
Authorising legislation	Banking Act 1959; Insurance Act 1973; and Life Insurance Act 1995
Department	Treasury

ISSUE:

Drafting

The instruments contain drafting deficiencies, including an unclear expression in the definition of registered life NOHC and a typographical error in determination No. 1. The committee will draw these issues to the attention of the Treasurer.

---

^[1] Banking, Insurance and Life Insurance (prudential standard) determination No. 3 of 2012 [F2012L02441]; Banking, Insurance and Life Insurance (prudential standard) determination No. 4 of 2012 and [F2012L02445]; and Banking Sector Legislation Amendment Regulation 2012 (No. 1) [Select Legislative Instrument 2012 No. 319] [F2012L02397].