Document ID: chunk:federal_register_of_legislation:C2012C00862:clause:4_18
Version: federal_register_of_legislation:C2012C00862
Segment Type: clause
Provision Reference: sch 4 cl 18
Character Range: 132011–132805

18  Subsection 16(1)
Repeal the subsection, substitute:
 (1) APRA may, by written notice, exempt a financial sector entity from the requirement to comply with:
 (a) all the requirements contained in any one or more applicable reporting standards; or
 (b) a specified requirement or requirements contained in an applicable reporting standard or applicable reporting standards.
 (1A) A notice under subsection (1) is not a legislative instrument.
 (1B) APRA may, by legislative instrument, exempt a class or kind of financial sector entities from the requirement to comply with:
 (a) all the requirements contained in any one or more applicable reporting standards; or
 (b) a specified requirement or requirements contained in an applicable reporting standard or applicable reporting standards.