Banking (prudential standard) determination No. 2 of 2006 Prudential Standard APS 510 Governance (Cth)
Banking (prudential standard) determination No. 2 of 2006
Prudential Standard APS 510 Governance, Prudential Standard APS 310 Audit & Related Arrangements for Prudential Reporting, Prudential Standard 5.4.3, Subsection 237(2) Financial Institutions Code
as amended
made under section 11AF of the
Banking Act 1959
This compilation was prepared on 2 September 2009
taking into account amendments up to Banking (prudential standard) determination No. 19 of 2007 – Variation to Prudential Standard APS 510 GovernancePrepared by the Office of Legislative Drafting and Publishing,
Attorney-General’s Department, CanberraI, John Francis Laker, Chair of APRA:
(a) under paragraphs 11AF(1)(a) and (b) of the Banking Act 1959 (‘the Act’), DETERMINE Prudential Standard APS 510 Governance in the form set out in the Schedule, which shall apply to all authorised deposit-taking institutions (ADIs) and authorised non-operating holding companies (authorised NOHCs); and
(b) under subsection 11AF(3) of the Act, VARY Prudential Standard APS 310 Audit & Related Arrangements for Prudential Reporting by:
(i) deleting the heading “Audit Committee”; and
(ii) replacing the heading “Internal Audit” with “Role of Internal Audit”; and
(iii) deleting paragraphs 9 and 10 and the first sentence in paragraphs 11 and 12; and
(c) under subregulation 16(1) of the Financial Sector Reform (Amendments and Transitional Provisions) Regulations1999, REVOKE the following APRA transitional prudential standards:
(i) Prudential Standard 5.4.3 in Book 5 of the Prudential Notes and Prudential Standards issued by AFIC under Part 4 of an AFIC Code as in force immediately before the transfer date; and
(ii) subsection 237(2) of each Financial Institutions Code.
This instrument takes effect from 1 October 2006.
Dated 5 May 2006
[Signed]
John Francis Laker
Chair
Interpretation
In this Instrument
ADI and authorised deposit-taking institution each have the meaning given in section 5 of the Act.
APRA means the Australian Prudential Regulation Authority.
authorised NOHC has the meaning given in section 5 of the Act and authorised non-operating holding company has the same meaning.
Note An ADI or authorised NOHC that does not comply with a standard may be issued with directions by APRA under paragraph 11CA(1)(a) of the Act. Non-compliance with a direction is an offence attracting a penalty of up to 250 penalty units for a body corporate (currently $27,500) for each day that the offence continues. Officers of the ADI or authorised NOHC may also be criminally liable (see section 11CG).
Schedule
Prudential Standard APS 510 Governance comprises the 13 pages commencing on the following page.
Prudential Standard APS 510
Governance
Objectives and key requirements of this Prudential Standard
The ultimate responsibility for the sound and prudent management of authorised deposit-taking institutions and authorised non-operating holding companies rests with their Board of directors. It is essential that regulated institutions have a sound governance framework and conduct their affairs with a high degree of integrity.
A culture that promotes good governance is of benefit to all stakeholders of a regulated institution and helps to maintain public confidence in the institution.
This Prudential Standard sets out minimum foundations for good governance of regulated institutions. It aims to ensure that regulated institutions are managed in a sound and prudent manner by a competent Board of directors, which is capable of making reasonable and impartial business judgements in the best interests of the regulated institution and which gives due consideration to the impact of its decisions on depositors.
The governance arrangements of regulated institutions build on these foundations in ways that take account of the size, complexity and risk profile of the institution.
The key requirements of this Prudential Standard include:
· specific requirements with respect to Board size and composition;
· the chairperson of the Board must be an independent director;
· a Board Audit Committee must be established;
· regulated institutions must have a dedicated internal audit function;
· certain provisions dealing with independence requirements for auditors consistent with those in the Corporations Act 2001; and
· the Board must have a policy on Board renewal and procedures for assessing Board performance.
A number of requirements also apply to foreign authorised deposit-taking institutions.
Authority
1.This Prudential Standard is made under s11AF of the Banking Act 1959 (Banking Act).
Application
2.This Prudential Standard applies to all authorised deposit-taking institutions (ADIs) and authorised non-operating holding companies (authorised NOHCs) under the Banking Act. ADIs and authorised NOHCs are collectively referred to as regulated institutions in this Prudential Standard. All regulated institutions (except foreign ADIs[1]) have to comply with this Prudential Standard in its entirety.
[1] For the definition of “foreign ADI” refer to section 5 of the Banking Act 1959 (Banking Act).
3.Foreign ADIs have to comply with only those provisions of this Prudential Standard which specifically indicate that they apply to foreign ADIs. The obligations imposed by this Prudential Standard, on or in relation to foreign ADIs, only apply in relation to its Australian business.
The Board and senior management
4.The Board of directors (the Board) of a regulated institution is ultimately responsible for the sound and prudent management of the regulated institution. This Prudential Standard sets out the minimum requirements that a regulated institution must meet in the interests of promoting strong and effective governance.
5.The Board of a regulated institution must have a formal charter that sets out the roles and responsibilities of the Board.
6.The Board, in fulfilling its functions, may delegate authority to management to act on behalf of the Board with respect to certain matters, as decided by the Board. This delegation of authority must be clearly set out and documented. The Board must have mechanisms in place for monitoring the exercise of delegated authority. The Board cannot abrogate its responsibility for functions delegated to management.
7.The Board must ensure that directors and senior management of the regulated institution, collectively, have the full range of skills needed for the effective and prudent operation of the regulated institution, and that each director has skills that allow them to make an effective contribution to Board deliberations and processes. This includes the requirement for directors, collectively, to have the necessary skills, knowledge and experience to understand the risks of the regulated institution, including its legal and prudential obligations, and to ensure that the regulated institution is managed in an appropriate way taking into account these risks. This does not preclude the Board from supplementing its skills and knowledge through the use of external consultants and experts.
8.Senior management of the regulated institution (and senior management of a foreign ADI), with responsibilities relating to the business in Australia, must be ordinarily resident in Australia.
9.Members of the Board and senior management (and senior management of a foreign ADI) must be available to meet with APRA on request.
10.The Board (or, in the case of a foreign ADI, the senior officer outside Australia with delegated authority from the Board (senior officer outside Australia)[2]) must provide the external auditor of the regulated institution (including a foreign ADI) with the opportunity to raise matters directly with the Board (or, in the case of a foreign ADI, the senior officer outside Australia).
[2] Refer to paragraph 14 for the definition of senior officer outside Australia with delegated authority from the Board.
Independence
11.For the purposes of this Prudential Standard, an independent director is a non-executive director who is free from any business or other association – including those arising out of a substantial shareholding, involvement in past management or as a supplier, customer or adviser – that could materially interfere with the exercise of their independent judgement. The circumstances that will not meet this test of independence include, but are not limited to, those set out in Attachment A.
12.If the Board of a regulated institution is in doubt regarding a director’s independence, the regulated institution may refer the matter to APRA for guidance.
Definition of non-executive director
13.For the purposes of this Prudential Standard, a reference to “non-executive” director is to be interpreted as meaning a director who is not a member of management.
Senior officer outside Australia (foreign ADIs)
14.As in the case of locally-incorporated ADIs, the ultimate responsibility for the safety and soundness of a foreign ADI resides with its Board. Foreign ADIs must nominate a senior officer (whether a director or senior executive) outside Australia with delegated authority from the Board who will be responsible for overseeing the Australian branch operation.
Board composition
15.The Board of a regulated institution must have a minimum of five directors at all times.
16.The Board must have a majority of independent directors at all times. For regulated institutions that are subsidiaries[3] of other APRA-regulated institutions or overseas equivalents,[4] exceptions may apply as set out at paragraphs 27 to 29. For regulated institutions that are subsidiaries of a parent company that is not prudentially regulated, exceptions may apply as set out at paragraph 30.
[3] “Subsidiary” means a subsidiary within the meaning of the Corporations Act 2001 (Corporations Act).
[4] An overseas equivalent is one which is not authorised in Australia but is authorised and subject to prudential regulation in a foreign country.
17.The chairperson of the Board must be an independent director of the regulated institution.
18.A majority of directors present and eligible to vote at all Board meetings must be non-executives.
19.The chairperson of the Board cannot have been the Chief Executive Officer (CEO) of the regulated institution at any time during the previous three years. If the position of the CEO is unexpectedly vacated, the chairperson may serve as an interim CEO. After a period of 90 days, approval must be sought from APRA to allow this arrangement to continue.
20.The chairperson must be available to meet with APRA on request.
21.For locally-owned and incorporated regulated institutions, a majority of directors must be ordinarily resident in Australia.
22.For foreign-owned locally incorporated regulated institutions, at least two of the directors must be ordinarily resident in Australia, at least one of whom must also be independent.
23.For foreign ADIs, in addition to the requirement to have a senior officer outside Australia with delegated authority from the Board who is responsible for overseeing the Australian branch operation, there must be a senior manager[5] in Australia responsible for the local operation who is ordinarily resident in Australia.
[5] “Senior manager” is defined in Prudential Standard APS 520 Fit and Proper Requirements.
24.Board representation must be consistent with a regulated institution’s shareholding. Where a shareholding constitutes not more than 15% of a regulated institution’s voting shares, there should not be more than one Board member who is an associate of the shareholder where the Board has up to six directors, and not more than two Board members who are associates of the shareholder where the Board has seven or more directors. A director is taken to be an associate of a shareholder for the purposes of this clause, if the director is an “associate” of the shareholder, or the shareholder is an “associate” of the director, according to the definition of “associate” in clause 4 of Schedule 1 of the Financial Sector (Shareholdings) Act 1998. That definition is to be applied for the purposes of this clause as if subparagraph (1)(l) of that definition were omitted.
25.Where an individual shareholding is greater than 15%, as approved under the Financial Sector (Shareholdings) Act 1998, the Board representation of that shareholding can be greater than allowed in paragraph 24, although it must still be broadly proportionate to the shareholding concerned.[6]
[6] Note, where the proportionate shareholding does not equate to a whole number, it can be rounded to the nearest whole number.
26.For ADIs that operate as special service providers, the ADI may apply to APRA, in writing, for approval for alternative Board composition arrangements that meet the objectives of this Prudential Standard. APRA may approve alternative arrangements for the ADI if satisfied that those arrangements will, in APRA’s opinion, achieve the objectives of this Prudential Standard.
Regulated institutions that are subsidiaries of other APRA-regulated institutions or overseas equivalents
27.For a regulated institution that is a subsidiary of another APRA-regulated institution or an overseas equivalent, the Board of the regulated institution must have a majority of non-executive directors, but these non-executive directors need not all be independent. They can include Board members or senior management of the parent company or its subsidiaries, but not executives of the regulated institution or its subsidiaries.
28.A regulated institution to which paragraph 27 applies will be required to have, at a minimum, two independent directors, in addition to an independent chairperson, where the Board has up to seven members. Where the Board has more than seven members, the regulated institution will be required to have at least three independent directors, in addition to an independent chairperson.
29.For the purposes of meeting the requirements in paragraph 28, the independent directors on the Board of the parent company or its other subsidiaries can also sit as independent directors on the Board of the regulated institution.
Subsidiaries with a parent that is not prudentially regulated
30.For a regulated institution that is a subsidiary of another entity, not covered by the arrangements in paragraphs 27 to 29 of this Prudential Standard, the Board must have a majority of independent directors. However, independent directors on the Board of the parent company or its other subsidiaries can also sit as independent directors on the Board of the regulated institution.
Regulated institutions that are part of a corporate group
31.Where a regulated institution is part of a corporate group[7] (group) and the regulated institution utilises group policies or functions, the Board of the regulated institution must ensure that these policies and functions give appropriate regard to the regulated institution’s business and its specific requirements.
[7] A “corporate group” comprises more than one company that are related bodies corporate within the meaning of section 50 of the Corporations Act.
Joint ventures
32.For the purposes of this Prudential Standard, a regulated institution that operates as a joint venture can be considered as part of the group of each parent entity. Independent directors of a parent can sit as independent directors on the Board of the joint venture entity. However, the general concessions available to subsidiaries in paragraphs 27 to 29 will not be available to joint ventures.
Board Audit Committee
33.A regulated institution must have a Board Audit Committee, which assists the Board by providing an objective non-executive review of the effectiveness of the regulated institution’s financial reporting and risk management framework unless, with respect to risk management, there is another Board Committee which carries out this function. The Board Audit Committee must have sufficient powers to enable it to obtain all information necessary for the performance of its functions.
34.The Board Audit Committee must have at least three members. All members of the Committee must be non-executive directors of the regulated institution. A majority of the members of the Committee must be independent.
35.The chairperson of the Board Audit Committee must be an independent director of the regulated institution.
36.The chairperson of the Board can sit on the Board Audit Committee, but cannot chair the Committee.
37.The Board Audit Committee must have a charter that includes a reference to the fact that the Committee is responsible for the oversight of APRA statutory reporting requirements, as well as other financial reporting requirements, professional accounting requirements, internal and external audit, and the appointment of the regulated institution’s external auditor.
38.The Board Audit Committee must review the external auditor’s engagement at least annually, including making an assessment of whether the auditor meets the Audit Independence tests set out in APES 110 Code of Ethics for Professional Accountants,[8] as well as the additional auditor independence requirements set out in this Prudential Standard. For a foreign ADI, it will be the responsibility of the senior officer outside Australia to undertake this assessment.
[8] APES 110 Code of Ethics for Professional Accountants was issued by the Accounting Professional and Ethical Standards Board with effect from 1 July 2006.
39.The Board Audit Committee must regularly review the internal and external audit plans, ensuring that they cover all material risks and financial reporting requirements of the regulated institution. It must also regularly review the findings of audits, and ensure that issues are being managed and rectified in an appropriate and timely manner.
40.The Board Audit Committee must ensure the adequacy and independence of both the internal and external audit functions.
41.The members of the Board Audit Committee must, at all times, have free and unfettered access to senior management, the internal auditor, the heads of all risk management functions and the regulated institution’s external auditor, and vice versa.
42.The Board Audit Committee must establish and maintain policies and procedures for employees of the regulated institution to submit, confidentially, information about accounting, internal control, compliance, audit, and other matters about which the employee has concerns. The Committee should also have a process for ensuring employees are aware of these policies and for dealing with matters raised by employees under these policies.
43.Members of the Board Audit Committee must be available to meet with APRA on request.
44.The Board Audit Committee must invite the regulated institution’s external auditor to meetings of the Committee.
45. The internal auditor must have a reporting line and unfettered access to the Board Audit Committee. For foreign ADIs, the auditor of the local operation must have direct access to the Head Office audit function.
Internal audit
46. A regulated institution (including a foreign ADI in relation to its Australian business) must have an independent and adequately resourced internal audit function. If a regulated institution does not believe it is necessary to have a dedicated internal audit function, it must apply to APRA, in writing, seeking an exemption from this requirement, and set out reasons why it believes it should be exempt. APRA may approve alternative arrangements for a regulated institution where APRA is satisfied that they will achieve the same objectives.
47. The objectives of the internal audit function must include evaluation of the adequacy and effectiveness of the financial and risk management framework of the regulated institution (including a foreign ADI). To fulfil its functions, the internal auditor must, at all times, have unfettered access to all the regulated institution’s business lines and support functions.
Auditor independence
48. The Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004 introduced a number of new requirements into the Corporations Act 2001 (Corporations Act) in relation to auditor independence. The auditor independence requirements in this Prudential Standard are substantially consistent with those requirements, and are intended to help ensure the independence of an auditor engaged to perform work of a prudential nature in relation to the Banking Act, the Prudential Standards and the Reporting Standards.[9]
[9] Reporting Standards are those standards made under the Financial Sector (Collection of Data) Act 2001.
49. The Board of an ADI (and the senior officer outside Australia in the case of a foreign ADI) must, to the extent practical, undertake steps to satisfy themselves that the auditor, who undertakes work for the ADI (or foreign ADI) in relation to the Banking Act, the Prudential Standards or the Reporting Standards, is independent of the ADI (or foreign ADI),[10] and that there is no conflict of interest situation that could compromise, or be seen to compromise, the independence of the auditor.
[10] “Independent of the ADI (or foreign ADI)” means that the auditor has been assessed as independent in terms of paragraph 38 of this Prudential Standard.
50. As part of the process of ascertaining the independence of the auditor, an ADI (including a foreign ADI) must obtain a declaration from the auditor to the effect that the auditor is independent, both in appearance and in fact, and has no conflict of interest situation, and that there is nothing to the auditor’s knowledge (either in relation to the individual auditor or any audit firm or audit company of which the auditor is a member or director) that could compromise that independence.
51. For the purposes of this Prudential Standard, a conflict of interest situation exists in relation to an ADI (or foreign ADI) at a particular time, if because of circumstances that exist at that time:
(a) the auditor is not capable of exercising objective and impartial judgement in relation to the conduct of the work that is undertaken for the ADI (or foreign ADI) in relation to the Banking Act, the Prudential Standards or the Reporting Standards; or
(b) a reasonable person, with full knowledge of all relevant facts and circumstances, would conclude that the auditor is not capable of exercising objective and impartial judgement in relation to undertaking the work for the ADI (or foreign ADI) for the purposes of the Banking Act, the Prudential Standards, or the Reporting Standards.[11]
[11] This definition is based on that used in the Corporations Act to describe the circumstances under which a conflict of interest situation is considered to exist, and is intended to be interpreted in a similar manner. Without limiting the situations that may cause a conflict to arise for the purposes of this Prudential Standard, it is expected that any circumstances of the type that would lead to a breach of the Corporations Act requirements for audit independence, whether or not these provisions actually apply in relation to the audit of the ADI (including a foreign ADI), will also result in a breach of the provisions of this Prudential Standard.
52. A person, who was a member of an audit firm or a director of an audit company, and who served in a professional capacity in the audit of an ADI (including a foreign ADI) in relation to the Banking Act, the Prudential Standards or the Reporting Standards, cannot be appointed to the role of director or senior manager of that ADI until at least two years have passed since they served in that professional capacity.
53. A person, who was an employee of an audit company, other than a director of that company, and who acted as the lead auditor[12] or review auditor[13] in the audit of an ADI (including a foreign ADI) in relation to the Banking Act, the Prudential Standards or the Reporting Standards, cannot be appointed to the role of director or senior manager of that ADI until at least two years have passed since they acted as the lead auditor or review auditor.
[12] Lead auditor means the registered company auditor who is primarily responsible to the audit firm or the audit company for the conduct of audit work conducted in relation to the Banking Act, the Prudential Standards or the Reporting Standards.
[13] Review auditor means the registered company auditor (if any) who is primarily responsible to the individual auditor, the audit firm or the audit company for reviewing audit work conducted in relation to the Banking Act, the Prudential Standards or the Reporting Standards.
54. A person cannot be appointed as a director or senior manager of an ADI (or a senior manager in the case of a foreign ADI) if:
(a) the person was, or is, a director of the audit company or a member of the audit firm that was, or is, responsible for the audit of the ADI in relation to the Banking Act, the Prudential Standards or the Reporting Standards; and
(b) there is already another person employed as a director or senior manager of the ADI who was a director of the audit company or a member of the audit firm, at a time when the audit company or audit firm undertook an audit of the ADI at any time during the previous two years.
55. An individual who plays a significant role[14] in the audit of an ADI (including a foreign ADI) in relation to the Banking Act, the Prudential Standards or the Reporting Standards, for five successive years, or for more than five years out of seven successive years, cannot continue to play a significant role in the audit until at least a further two years have passed, except with an exemption from APRA. APRA may grant an exemption from this requirement if the individual provides specialist services that are otherwise not readily available or there are no other registered company auditors available to provide satisfactory services for the ADI.
[14] For the purpose of this paragraph “an individual who plays a significant role” means an individual auditor who acts as the auditor in respect of any of the requirements of the Banking Act, the Prudential Standards or the Reporting Standards, or the lead or review auditor where such audit work is performed by an audit company or audit firm.
Board performance assessment
56. The Board of a regulated institution must have procedures for assessing, at least annually, the Board’s performance relative to its objectives. It must also have in place a procedure for assessing, at least annually, the performance of individual directors.
Board renewal
57. The Board of a regulated institution must have in place a formal policy on Board renewal. This policy must provide details of how the Board intends to renew itself in order to ensure it remains open to new ideas and independent thinking, while retaining adequate expertise. The policy must give consideration to whether directors have served on the Board for a period which could, or could reasonably be perceived to, materially interfere with their ability to act in the best interests of the regulated institution.
Persons not to be constrained from providing information to APRA
58.No prospective, current or former officer,[15] employee or contractor (including professional service provider) of a regulated institution (including a foreign ADI) may be constrained or impeded, whether by confidentiality clauses or other means, from disclosing information to APRA, from discussing issues with APRA of relevance to the management and prudential supervision of the regulated institution, or from providing documents under their control to APRA, that may be relevant in the context of the management or prudential supervision of the regulated institution. Such persons are not to be constrained or impeded from providing information to auditors, and others, who have statutory responsibilities in relation to the regulated institution.
[15] “Officer” is defined in section 9 of the Corporations Act.
59.Regulated institutions (including foreign ADIs) must ensure that their internal policy and contractual arrangements do not explicitly or implicitly restrict or discourage auditors or other parties from communicating with APRA.
Commencement and transitional arrangements
60.This Prudential Standard commences on 1 October 2006.
Note: Paragraphs 61 and 62 have been deleted.
63.Upon commencement of this Prudential Standard, the auditor rotation and independence requirements required by paragraph 55 will apply. However the auditor of an ADI (including a foreign ADI) not previously subject to the auditor rotation provisions in the Corporations Act can continue in this role even if they have already been the auditor for five successive years, or more than five out of seven successive years upon commencement of this Prudential Standard, for a further period of not more than two years from the date of commencement of this Prudential Standard.
Attachment A[16]
[16] The following circumstances are adapted from the guidance on “Relationships affecting independent status” to be considered by a Board when determining the independent status of a director set out in Box 2.1 of the ASX Corporate Governance Principles and Recommendations (2nd Edition).
A director is not independent if the director:
1.is a substantial shareholder[17] of the regulated institution or an officer of, or otherwise associated directly with, a substantial shareholder of the regulated institution
[17] For the purpose of this Attachment, a “substantial shareholder” is a person with a substantial holding as defined in section 9 of the Corporations Act.
2.is employed, or has previously been employed in an executive capacity by the regulated institution or another group member, and there has not been a period of at least three years between ceasing such employment and serving on the Board
3.has within the last three years been a principal of a material professional adviser or a material consultant to the regulated institution or another group member, or an employee materially associated with the service provided
4.is a material supplier or customer of the regulated institution or other group member, or an officer of or otherwise associated directly or indirectly with a material supplier or customer
5.has a material contractual relationship with the regulated institution or another group member other than as a director
Notes to the Banking (prudential standard) determination No. 2 of 2006
Prudential Standard APS 510 Governance, Prudential Standard APS 310 Audit & Related Arrangements for Prudential Reporting, Prudential Standard 5.4.3, Subsection 237(2) Financial Institutions Code
Note 1
The Banking (prudential standard) determination No. 2 of 2006 – Prudential Standard APS 510 Governance, Prudential Standard APS 310 Audit & Related Arrangements for Prudential Reporting, Prudential Standard 5.4.3, Subsection 237(2) Financial Institutions Code (in force under section 11AF of the Banking Act 1959) as shown in this compilation is amended as indicated in the Tables below.
Table of Instruments
| Year and | Date of FRLI registration | Date of | Application, saving or |
| No. 2 of 2006 | 10 May 2006 (see F2006L01461) | 1 Oct 2006 | |
| No. 15 of 2006 | 4 Jan 2007 (see F2007L00041) | 4 Jan 2007 | — |
| No. 2 of 2007 | 27 Nov 2007 (see F2007L04451) | 1 Jan 2008 | — |
| No. 19 of 2007 | 20 Dec 2007 (see F2007L04826) | 1 Jan 2008 | — |
Table of Amendments
| ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted | |
| Provision affected | How affected |
| APS 510 | |
| Para. 1.................................... | rs. No. 2 of 2007 |
| Para. 2.................................... | am. No. 2 of 2007 |
| Footnote 2 to para. 10.......... | am. No. 2 of 2007 |
| Para. 11.................................. | am. No. 2 of 2007 |
| Para. 33.................................. | am. No. 15 of 2006 |
| Para. 38.................................. | am. No. 2 of 2007 |
| Footnote 8 to para. 38.......... | rs. No. 2 of 2007 |
| Para. 57.................................. | am. Nos. 2 and 19 of 2007 |
| Note after para. 60................ | ad. No. 2 of 2007 |
| Para. 61.................................. | rep. No. 2 of 2007 |
| Para. 62.................................. | rep. No. 2 of 2007 |
| Attachment A | |
| Attachment A.......................... | rs. No. 2 of 2007 |
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