Document ID: chunk:federal_register_of_legislation:F2018L01390:body:0:p6
Version: federal_register_of_legislation:F2018L01390
Segment Type: other
Provision Reference: 
Character Range: 13925–16802

The Head of a group must maintain a group Fit and Proper Policy (refer to paragraphs 12 to 16).
18.         Where an entity within the group that is not an APRA-regulated institution engages in business activities that may materially affect, either directly or indirectly, the whole, or a substantial part, of the group, the Head of the group must ensure that the responsible persons for those business activities are assessed for fitness and propriety in a way that complies with the group Fit and Proper Policy.[10]
19.         The Head of a group must notify APRA in accordance with paragraphs 56 to 61 in respect of each responsible person across the group, except where an APRA-regulated institution within the group has otherwise notified APRA of that information.

Responsible persons
20.         A 'responsible person' is:
       (a)          for an ADI (other than a foreign ADI) or an authorised banking NOHC, a person defined in Attachment A;
       (b)          for a foreign ADI, a person defined in Attachment B;
       (c)          for a general insurer (other than a Category C insurer) or an authorised insurance NOHC, a person defined in Attachment C;
       (d)          for a Category C insurer, a person defined in Attachment D;
       (e)          for a life company (other than an EFLIC) or a registered life NOHC, a person defined in Attachment E;
       (f)           for an EFLIC, a person defined in Attachment F;
       (g)          for the purposes of a group, a person whose activities may materially affect, either directly or indirectly, the whole, or a substantial part, of the business or financial status of the group; and
       (h)          for a private health insurer, a person defined in Attachment G.
21.         A person need not be an employee of an APRA-regulated institution to be a responsible person. In some circumstances a consultant, contractor or employee of another entity may be a responsible person.
22.         In addition to persons who meet the definition of a responsible person, APRA may determine that a person is a responsible person if APRA is satisfied that the person plays a significant role in the management or control of the APRA-regulated institution or group, or that the person's activities may materially impact on prudential matters.
23.         APRA may determine that a person is not a responsible person in relation to a particular position, responsibility or activity if APRA is satisfied that the person does not play a significant role in the management or control of the APRA-regulated institution or group or that the person's activities may not materially impact on prudential matters.
24.         'Responsible person position' means the responsibilities or activities of a responsible person that would lead to the person being a responsible person under the definition in paragraph 20.

Senior