Australian Prudential Regulation Authority Regulations 1998

Australian Prudential Regulation Authority Regulations 1998

Statutory Rules No. 200, 1998

made under the

Australian Prudential Regulation Authority Act 1998

Compilation No. 15

Compilation date:    22 June 2017

Includes amendments up to: F2017L00706

Registered:    22 June 2017

About this compilation

This compilation

This is a compilation of the Australian Prudential Regulation Authority Regulations 1998 that shows the text of the law as amended and in force on 22 June 2017 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Legislation Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on the Legislation Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on the Legislation Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

1 Name of Regulations

3 Definition

3A Cooperation with other agencies

4 Liability to fringe benefits taxation (Act, s 55 (2))

4A Prescription of prudential regulation framework laws

5 Secrecy—disclosure of protected information or production of protected document to specified agencies (Act s 56 (5))

Endnotes

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

1  Name of Regulations

  These Regulations are the Australian Prudential Regulation Authority Regulations 1998.

3  Definition

  In these Regulations:

Act means the Australian Prudential Regulation Authority Act 1998.

3A  Cooperation with other agencies

  For subsection 10A (1) of the Act, the following agencies are specified:

 (a) the Council of Financial Regulators;

 (b) the Financial Reporting Council mentioned in section 225 of the Australian Securities and Investments Commission Act 2001.

Note: Under subitem 7 (2) of Schedule 3 to the Australian Prudential Regulation Authority Amendment Act 2003, regulations in force under paragraph 56 (5) (a) of the Act immediately before the commencement of that Amendment Act have effect after that commencement of the Amendment Act as if they were also made under subsection 10A (1) of the Act.

4  Liability to fringe benefits taxation (Act, s 55 (2))

  For subsection 55 (2) of the Act, subsection 55 (1) of the Act does not apply in relation to the Fringe Benefits Tax Assessment Act 1986.

4A  Prescription of prudential regulation framework laws

  For paragraph (o) of the definition of prudential regulation framework law in subsection 3 (1) of the Act, the Royal Commissions Act 1902 is prescribed for the purposes of section 56 of the Act.

5  Secrecy—disclosure of protected information or production of protected document to specified agencies (Act s 56 (5))

  The following agencies are specified for the purposes of paragraph 56 (5) (a) of the Act:

 (a) the Private Health Insurance Ombudsman established by section 20C of the Ombudsman Act 1976;

 (aa) the Department administered by the Minister administering the Agricultural and Veterinary Chemicals Act 1994;

 (b) the Department administered by the Minister administering the Private Health Insurance Act 2007;

 (c) the Reserve Bank of Australia;

 (d) the Australian Bureau of Statistics established under section 5 of the Australian Bureau of Statistics Act 1975;

 (e) the Australian Federal Police established under section 6 of the Australian Federal Police Act 1979;

 (f) the Police Force of a State or Territory;

 (g) for protected information or a protected document that:

 (i) relates to superannuation; and

 (ii) is covered by at least 1 of the following Acts:

 (B) the Retirement Savings Accounts Act 1997;

 (C) the Superannuation Industry (Supervision) Act 1993;

 (D) the Superannuation (Excluded Funds) Taxation Act 1987;

  the Commissioner of Taxation;

 (h) The Department of the Treasury;

 (i) the Commission of Inquiry, established under the Royal Commissions Act 1902 by letters patent dated 29 August 2001, into certain matters relating to the failure of HIH Insurance Group;

 (j) the Australian Transaction Reports and Analysis Centre (AUSTRAC) continued in existence by force of subsection 209 (1) of the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006;

 (k) the Australian Crime Commission established by section 7 of the Australian Crime Commission Act 2002;

 (l) the Superannuation Complaints Tribunal established
by section 6 of the Superannuation (Resolution of Complaints) Act 1993;

 (m) the Council of Financial Regulators;

 (n) the Financial Reporting Council mentioned in section 225 of the Australian Securities and Investments Commission Act 2001;

 (o) The Treasury (New Zealand);

 (p) the Bank for International Settlements;

 (q) the Basel Committee on Banking Supervision;

 (r) the Financial Stability Board;

 (s) the International Monetary Fund;

 (t) the World Bank Group.

Endnotes

Endnote 1—About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Editorial changes

The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.

If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation “(md)” added to the details of the amendment included in the amendment history.

If a misdescribed amendment cannot be given effect as intended, the abbreviation “(md not incorp)” is added to the details of the amendment included in the amendment history.

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history