Banking, Insurance and Life Insurance (prudential standard) determination No. 6 of 2016 - Prudential Standard CPS 231 Outsourcing (Cth)

Banking, Insurance and Life Insurance (prudential standard) determination No. 6 of 2016

Prudential Standard CPS 231 Outsourcing

Banking Act 1959 Insurance Act 1973 Life Insurance Act 1995

I, Wayne Byres, delegate of APRA:

(a) under subsection 11AF(3) of the Banking Act 1959 REVOKE Banking, Insurance and Life Insurance (prudential standard) determination No. 1 of 2014, including Prudential Standard CPS 231 Outsourcing made under that Determination, to the extent that it applied to all ADIs and authorised banking NOHCs;

(b) under subsection 32(4) of the Insurance Act 1973 REVOKE Banking, Insurance and Life Insurance (prudential standard) determination No. 1 of 2014, including Prudential Standard CPS 231 Outsourcing made under that Determination, to the extent that it applied to all general insurers, authorised insurance NOHCs, and subsidiaries of general insurers and authorised insurance NOHCs;

(c) under subsection 230A(5) of the Life Insurance Act 1995 REVOKE Banking, Insurance and Life Insurance (prudential standard) determination No. 1 of 2014, including Prudential Standard CPS 231 Outsourcing made under that Determination, to the extent that it applied to life companies, friendly societies, registered life NOHCs, and subsidiaries of life companies and registered life NOHCs;

(d) under subsection 11AF(1) of the Banking Act 1959 DETERMINE Prudential Standard CPS 231 Outsourcing in the form set out in the Schedule, to the extent that it applies to all ADIs and authorised banking NOHCs;

(e) under subsection 32(1) of the Insurance Act 1973 DETERMINE Prudential Standard CPS 231 Outsourcing in the form set out in the Schedule, to the extent that it applies to all general insurers, authorised insurance NOHCs, and subsidiaries of general insurers and authorised insurance NOHCs; and