Financial Sector (Collection of Data) (reporting standard) determination No. 32 of 2007 Reporting standard DRS 1.0 Notification (Cth)
Financial Sector (Collection of Data) (reporting standard) determination No. 32 of 2007
Reporting standard DRS 1.0 - Notification
Financial Sector (Collection of Data) Act 2001
I, Charles Watts Littrell, a delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001), DETERMINE the Reporting Standard DRS 1.0 Notification in the form set out in the Schedule, which applies to all discretionary mutual funds.
This instrument takes effect on the date of registration on the Federal Register of Legislative Instruments.
Dated 14 December 2007
[signed]
Charles Littrell
Executive General Manager
Policy, Research and Statistics
Interpretation
In this Determination
APRA means the Australian Prudential Regulation Authority.
discretionary mutual fund has the meaning given in the Act.
Federal Register of Legislative Instruments means the register established under section 20 of the Legislative Instruments Act 2003.
Schedule
Reporting Standard DRS 1.0 Notification comprises the 9 pages commencing on the following page.
Reporting Standard DRS 1.0
Notification
Objective of this reporting standard
This reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001. It requires all DMF entities to provide APRA with the Form DRF 1.0 Notification.
This reporting standard outlines the overall requirements for the provision of this information to APRA. It should be read in conjunction with the form.
Purpose
Information collected in Form DRF 1.0 Notification (Form DRF 1.0) is used by APRA for the purpose of monitoring bodies in the finance sector.
Application and commencement
This reporting standard applies to all DMF entities from 1 January 2008.
Information required
A DMF entity must provide APRA with the information required by Form DRF 1.0 in respect of the DMF.
Forms and method of submission
The information required by this reporting standard must be given to APRA either:
(a) in electronic form, or
(b) by manually completing Form DRF 1.0 on paper and mailing or faxing the completed form to APRA’s head office.
Due date
The information must be provided to APRA:
(a) for a DMF existing as at 1 January 2008, by 1 March 2008;
(b) for a DMF coming into existence after 1 January 2008, by the later of 1 March 2008 and 14 days after becoming a DMF; and
(c) for an entity ceasing to be a DMF, within 14 days of ceasing to be a DMF.
In the event that the information (with the exception of information supplied in response to questions 5 and 6 of Form DRF 1.0) changes, a DMF entity must advise APRA of the details of the change within 14 days of the change.
APRA may grant an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.
Quality control
The information provided under this reporting standard must be the product of processes and controls developed by the DMF entity for the internal review and authorisation of that information. It is the responsibility of the DMF entity to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.
Authorisation
The completed form must be signed by an officer of the DMF entity who is authorised by the DMF entity to complete and lodge Form DRF 1.0.
Minor alterations to form and instructions
APRA may make minor variations to:
(a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or
(b) the instructions to a form, to clarify their application to the form
without changing any substantive requirement in the form or instructions.
If APRA makes such a variation it must notify in writing each DMF entity that is required to report under this reporting standard.
Interpretation
In this reporting standard:
APRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998;
DMF has the meaning given by section 5 of the Financial Sector (Collection of Data) Act 2001;
due date means the relevant due date under paragraph 5 or, if applicable, paragraph 7;
DMF entity is a person or body that controls a DMF, and may include any of the following:
(a) a body corporate;
(b) a partnership;
(c) an unincorporated body;
(d) an individual;
(e) for a trust that has only one trustee – the trustee; and
(f) for a trust that has more than one trustee – the trustees together;
officer in relation to a DMF entity means, where relevant:
(a) a director or secretary of the entity; or
(b) a person:
who makes, or participates in making, decisions that affect the whole, or a substantial part, of the business of the entity; or
who has the capacity to affect significantly the entity’s financial standing.
Discretionary Mutual Fund (DMF)
Form DRF 1.0 Notification
(Notifies APRA when a DMF is in existence on or after 1 January 2008 or when a DMF is wound up)
Purpose (Please tick)
Notification
Wind up
1. Entity
ABN: ………………………………………………………
Registered name: …………………..………………………………………...
Trading name: …………………………………..……………………………
2. Type of entity: (Please tick)
Company Limited by Guarantee
Unit Trust
Discretionary Trust
Other Provide details …………………………
3. Date of incorporation/commencement or wind up
_ _ /_ _ /_ _ _ _ (DD/MM/YYYY)
4. DMF Financial year end date
_ _ /_ _ (DD/MM)
5. Total Assets for the latest financial year. Round to nearest thousand dollars. State month and year.
…………………………………………………….
6. Gross Earned Contribution revenue for the latest financial year. Round to nearest thousand dollars. State month and year.
…………………………………………………….
7. List the names of the sub funds which have:
· sub fund bank accounts and
· sub fund financial statements;
· Or else state “Not Applicable”.
………………………………………………………
………………………………………………………
………………………………………………………
………………………………………………………
………………………………………………………
8. Registered Office address
………………………………………………………………………………..…..
……………………………………………………………………………………
Suburb………………………………..State……………..Postcode…………….
9. Postal address for correspondence
….………………………………………………………………………………..
……..……………………………………………………………………………..
Suburb………………………………..State……………..Postcode……………..
10. Contact number ………………………. Fax ……………………………..
11. Officer of the DMF entity who will be signing off on submission of forms to APRA
Entity Name: ………………………………………………………
Name (Mr/Ms/Mrs): ………………………………………………………
Position: ……………………………………………………………………
Phone: ………………………………………………………………………
Email: ………………………………………………………………………
12. Chief Financial Officer / Financial Controller of DMF entity
Entity Name: ………………………………………………………
Name (Mr/Ms/Mrs): ………………………………………………………
Position: ……………………………………………………………………
Phone: ………………………………………………………………………
Email: ………………………………………………………………………
13. Primary contact
Entity Name: ………………………………………………………
Name (Mr/Ms/Mrs): ………………………………………………………
Position: ……………………………………………………………………
Phone: ………………………………………………………………………
Email: ………………………………………………………………………
14. Contact for statistical/reporting form queries
Entity Name: ………………………………………………………
Name (Mr/Ms/Mrs): ……………………………………………………
Position: ……………………………………………………………………
Phone: ………………………………………………………………………
Email: ………………………………………………………………………
15. External Auditor contact
Organisation name: ………………………………………………………
Name (Mr/Ms/Mrs): ……………………………………………………
Position: ……………………………………………………………………
Phone: ………………………………………………………………………
Email: ………………………………………………………………………
16. External Actuary contact
Organisation name: ………………………………………………………
Name (Mr/Ms/Mrs): ……………………………………………………
Position: ……………………………………………………………………
Phone: ………………………………………………………………………
Email: ………………………………………………………………………
17. If the DMF has a trustee, please state the following details for the Trustee:
ABN: ………………………………………………………
Entity Name: ………………………………………………………
Contact Name (Mr/Ms/Mrs): ………………………………………………………
Position: ……………………………………………………………………
Phone: ………………………………………………………………………
Email: ………………………………………………………………………
18. If the DMF employs an External Manager or outsources the day to day operations of the DMF, please state:
ABN: ………………………………………………………
Entity Name: ………………………………………………………
Contact Name (Mr/Ms/Mrs): ………………………………………………………
Position: ……………………………………………………………………
Phone: ………………………………………………………………………
Email: ………………………………………………………………………
19. List the title, first and last names of persons:
· on the Board of directors of the entity or
· acting as the Trustee
…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….......……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………............................................................................................................
20. List all entities related to the DMF (eg Parent, subsidiary, joint venture)
Name: …………………………………………………………………….
Address: …………………………………………………………………….
…………………………………………………………………….
Suburb:………………………………..State……………..Postcode……………..
Relationship with DMF
(eg Parent, subsidiary, joint venture) ………………………………..
Is the related entity an Insurer? …………………………
What is the country of registration of the related entity? …………………………
(Please attach details of any additional entities that are related to the registrable Entity)
21. Does the DMF engage in any business activities which are not related to the operation of a discretionary mutual fund?
Select Yes/No.
21. Compulsory Declaration.
(The completed form must be signed by an officer of the DMF entity who is authorised by the DMF entity to complete and lodge the form. Refer interpretation below).
I (print name)……………………………………………………hereby declare that the information provided on this Notification Form is complete and accurate and consistent with the records of the entity.
_______________________________ ______________
(Signature) (Date)
Once this form is completed and signed please mail to:
Australian Prudential Regulatory Authority - Statistics (DMFs)
Level 26, 400 George Street
Sydney NSW 2000
Interpretation
DMF entity is a person or body that controls a DMF, and may include any of the following:
(a) a body corporate;
(b) a partnership;
(c) an unincorporated body;
(d) an individual;
(e) for a trust that has only one trustee – the trustee;
(f) for a trust that has more than one trustee – the trustees together
officer in relation to a DMF entity means, where relevant:
(a) a director or secretary of the entity; or
(b) a person:
who makes, or participates in making, decisions that affect the whole, or a substantial part, of the business of the entity; or
who has the capacity to affect significantly the entity’s financial standing.
0
0
0