Commonwealth Consolidated Acts Commonwealth Consolidated ActsIn this Division:
"clearing and settlement facility" has the same meaning as in the Corporations Act 2001 .
"conversion and write-off provisions" means the provisions of the prudential standards that relate to the conversion or writing off of:
(a) Additional Tier 1 and Tier 2 capital; or
(b) any other instrument.
"conversion entity" : an entity (the first entity ) is a conversion entity for an instrument if:
(a) the instrument is issued by another entity, or another entity is a party to the instrument; and
(b) the instrument converts, in accordance with the terms of the instrument, into one or more ordinary shares of the first entity.
"converts" : an instrument converts into one or more ordinary shares of an entity including by redeeming or cancelling the instrument or rights under the instrument, and replacing the instrument or rights with ordinary shares.
"operating rules" has the same meaning as in the Corporations Act 2001 .
"related subsidiary" of a life company means a subsidiary of a holding company of the life company.
"specified law" means any of the following:
(a) the Financial Sector (Shareholdings) Act 1998 ;
(b) the Foreign Acquisitions and Takeovers Act 1975 ;
(c) Chapter 6 of the Corporations Act 2001 (takeovers);
(d) any other Australian law, or law of a foreign country or part of a foreign country, prescribed by the regulations for the purposes of this paragraph.