Financial Sector (Collection of Data) exemption No. 1 of 2017 (Cth)

Financial Sector (Collection of Data) exemption No. 1 of 2017

Reporting Standard SRS 703.0 Fees Disclosed

Financial Sector (Collection of Data) Act 2001

I, Katrina Ellis, delegate of APRA:

(a)under paragraph 16(1B)(b) of the Financial Sector (Collection of Data) Act 2001 (the Act) EXEMPT the class of financial sector entities set out in Schedule 1 from the requirement to comply with the specified requirements contained in the reporting standard set out in Part 1 of Schedule 2 attached to this instrument; and

(b)under subsection 16(2) of the Act DETERMINE this exemption is subject to the conditions set out in Part 2 of Schedule 2 attached to this instrument.

This instrument commences upon registration on the Federal Register of Legislation and ceases to have effect on 29 October 2017.

Dated: 20 September 2017

[Signed]

Katrina Ellis

General Manager

Interpretation

In this Determination:

APRA means the Australian Prudential Regulation Authority.

financial sector entity has the meaning given by section 5 of the Act.

RSE licensee has the meaning given in section 10 of the Superannuation Industry (Supervision) Act 1993.

SRS 703.0 means Reporting Standard SRS 703.0 Fees Disclosed.   

Schedule 1

Each RSE licensee that is authorised to offer a MySuper product.

Schedule 2

Part 1

Paragraphs 7(b) and 9(b) of SRS 703.0.

Part 2

1. The exemption from the requirements in paragraphs 7(b) and 9(b) of SRS 703.0 only applies in relation to the information required by SRS 703.0 in respect of 30 June 2017.

1. Subject to paragraph 8 of SRS 703.0, an RSE licensee to which SRS 703.0 applies must provide the information required by SRS 703.0 in respect of 30 September 2017 within 28 calendar days after 30 September 2017.