Document ID: chunk:federal_register_of_legislation:F2017L00436:body:0:p3
Version: federal_register_of_legislation:F2017L00436
Segment Type: other
Provision Reference: 
Character Range: 5572–8439

conveniently; and

       (b)          the trust to be performed, including under judicial trusteeship and winding up under the Act.

   17.        A trustee must give to APRA the accounts and statements mentioned in Attachment A in the form, for the periods and within the time mentioned in Attachment A.

18.         A trustee must ensure the accounts and statements mentioned in Attachment B are audited by an auditor who is approved by APRA.

19.         The trustee must give to APRA an audit certificate in a form approved by APRA and within the time mentioned in Attachment B.

Notices
20.         A trustee must give to APRA written notice of the following matters:

       (a)          intention to resign;

       (b)          receipt of a notice of removal as trustee;

       (c)          failure to fund the designated security trust fund to the level required by the Lloyd's Security Trust Fund Arrangements; and

       (d)          default of more than 30 days in payment to the trustee for its services.

Giving information
21.         A trustee must provide a copy of the terms of a designated security trust fund if asked by:

       (a)          a party to a contract of insurance that is covered by the designated security trust fund; or

       (b)          a person who intends to become a party to a contract of insurance that is covered by the designated security trust fund.

22.         A trustee may charge a reasonable amount for copying material that has previously been given to the person mentioned in paragraph 21.

23.         A trustee must give to Lloyd's enough information to allow Lloyd's to give to APRA information, accounts, statements and actuarial reports required under the Act.

Review of APRA's decisions
24.         Part VI of the Act applies to a decision of APRA under these rules.

Determinations made under previous instrument
25.         Any exercise of APRA's discretion under the Lloyd's Security Trust Fund Rules No 1 made on 9 June 2000 continues to have effect as though exercised pursuant to a corresponding power (if any) exercisable by APRA under this instrument.

Attachment A – Accounts and statements

Part 1 - Commentary
     1. The accounts and statements required for paragraph 17 are:

       (a)          Form T1—Annual Statement of Assets and Liabilities of the Trustee (to be lodged by each trustee to a designated security trust fund within 4 months of the trustee's balance date); and

       (b)          Form T2Q—Quarterly Schedule of DSTF assets (to be lodged within 45 days of the end of each three months period ending 31 March, 30 June, 30 September and 31 December);

as set out in Part 2 of this Attachment.

2.             Dollar amounts are to be rounded to the nearest multiple of $1,000.  For example, $10,500 is to be rounded down to $10,000 and $10,501 is