Australian Prudential Regulation Authority Regulations 2018

Australian Prudential Regulation Authority Regulations 2018

made under the

Australian Prudential Regulation Authority Act 1998

Compilation No. 1

Compilation date: 16 December 2023

Includes amendments: F2023L01677

Registered: 21 December 2023

About this compilation

This compilation

This is a compilation of the Australian Prudential Regulation Authority Regulations 2018 that shows the text of the law as amended and in force on 16 December 2023 (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 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 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 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If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.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

3 Authority

5 Definitions

6 Cooperation with other agencies

7 Liability to fringe benefits taxation

8 Prescription of prudential regulation framework laws

9 Secrecy—disclosure of protected information or production of protected document to specified agencies

Endnotes

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

1  Name

  This instrument is the Australian Prudential Regulation Authority Regulations 2018.

3  Authority

  This instrument is made under the Australian Prudential Regulation Authority Act 1998.

5  Definitions

  In this instrument:

Act means the Australian Prudential Regulation Authority Act 1998.

6  Cooperation with other agencies

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

 (a) the Australian Bureau of Statistics;

 (b) the Australian Crime Commission;

 (c) the Australian Federal Police;

 (d) the Australian Securities and Investments Commission;

 (e) the Australian Transaction Reports and Analysis Centre (AUSTRAC);

 (f) the Commissioner of Taxation;

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

 (h) the Department of Treasury;

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

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

 (k) the Reserve Bank of Australia.

7  Liability to fringe benefits taxation

  For the purposes of 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.

8  Prescription of prudential regulation framework laws

  For the purposes of 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.

9  Secrecy—disclosure of protected information or production of protected document to specified agencies

  For the purposes of paragraph 56(5)(a) of the Act, the following agencies are specified:

 (a) the Australian Bureau of Statistics;

 (b) the Australian Competition and Consumer Commission;

 (c)  the Australian Crime Commission;

 (d) the Australian Federal Police;

 (e) the Australian Financial Complaints Authority;

 (f) the Australian Securities and Investments Commission;

 (g) the Australian Transaction Reports and Analysis Centre (AUSTRAC);

 (h) the Bank for International Settlements;

 (i) the Basel Committee on Banking Supervision;

 (j) the Commissioner of Taxation;

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

 (l) the Department administered by the Minister administering the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006;

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

 (n) the Department of the Treasury;

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

 (p) the Financial Stability Board;

 (q) the International Monetary Fund;

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

 (s) the Private Health Insurance Ombudsman;

 (t) the Reserve Bank of Australia;

 (v) the Treasury of New Zealand;

 (w) 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 how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.

If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history