Document ID: chunk:federal_register_of_legislation:F2014L00343:body:0:p1
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Financial Sector (Collection of Data) (reporting standard) determination No. 7 of 2014

Reporting Standard SRS 520.0 Responsible Persons Information

Financial Sector (Collection of Data) Act 2001

I, Steven Davies, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) and subsection 33(3) of the Acts Interpretation Act 1901:

    (a)          REVOKE Financial Sector (Collection of Data) (reporting standard) determination No. 77 of 2013, including Reporting Standard SRS 520.0 Responsible Persons Information made under that Determination; and

    (b)          DETERMINE Reporting Standard SRS 520.0 Responsible Persons Information, in the form set out in the Schedule, which applies to the financial sector entities to the extent provided in paragraph 3 of the reporting standard.

Under section 15 of the Act, I DECLARE that the reporting standard shall begin to apply to those financial sector entities, and the revoked reporting standard shall cease to apply, on 1 April 2014.

This instrument commences on 1 April 2014.

Dated: 21 March 2014

[Signed]

Steven Davies
General Manager, Statistics

Interpretation

In this Determination:

APRA means the Australian Prudential Regulation Authority.

financial sector entity has the meaning given by section 5 of the Act.

Schedule

Reporting Standard SRS 520.0 Responsible Persons Information comprises the 17 pages commencing on the following page.

Reporting Standard SRS 520.0

Responsible Persons Information

Objective of this Reporting Standard
This Reporting Standard sets out the requirements for the provision of information to APRA relating to the responsible persons of an RSE licensee.
It includes Form SRF 520.0 Responsible Persons Information and associated specific instructions and must be read in conjunction with Prudential Standard SPS 520 Fit and Proper.

Authority

     1. This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.

Purpose

    2.             Information collected in Form SRF 520.0 Responsible Persons Information (SRF 520.0) is used by APRA for the purposes of prudential supervision and publication, including assessing compliance with Prudential Standard SPS 520 Fit and Proper (SPS 520).

Application and commencement

    3.             This Reporting Standard applies to each registrable superannuation entity (RSE) licensee (RSE licensee).

    4.             This Reporting Standard commences on 1 April 2014.

Forms and method of submission

    5.             The information required by this Reporting Standard must be given to APRA in electronic format using 'Direct to APRA' application or, where 'Direct to APRA' is not available, by a method notified by APRA, in writing, prior to submission.

    Note: the 'Direct to APRA' application software (also known as 'D2A') may be obtained from APRA.

Information required and due dates

    6.             Subject to paragraph 7, an RSE licensee to which this Reporting Standard applies must provide the information required by this Reporting Standard:

       (a)          within 28 days of the commencement of