Document ID: chunk:federal_register_of_legislation:F2017L00724:body:0:p1
Version: federal_register_of_legislation:F2017L00724
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Financial Sector (Collection of Data) (reporting standard) determination No. 11 of 2017

Reporting Standard SRS 720.0 ABS Statement of Financial Position

Financial Sector (Collection of Data) Act 2001

I, Katrina Ellis, 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. 42 of 2015, including Reporting Standard SRS 720.0 ABS Statement of Financial Position made under that Determination; and

    (b) DETERMINE Reporting Standard SRS 720.0 ABS Statement of Financial Position, 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 July 2017.
This instrument commences on date of registration on the Federal Register of Legislation.
Dated: 21 June 2017

[Signed]

Katrina Ellis
General Manager, Statistics

Interpretation
In this Determination:

APRA means the Australian Prudential Regulation Authority.

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

Reporting Standard SRS 720.0 ABS Statement of Financial Position comprises the 41 pages commencing on the following page.

Reporting Standard SRS 720.0

ABS Statement of Financial Position

Objective of this Reporting Standard

This Reporting Standard sets out the requirements for the provision of information to APRA relating to the financial position of a registrable superannuation entity for the purposes of the Australian Bureau of Statistics.

It includes Form SRF 720.0 ABS Statement of Financial Position and associated specific instructions.

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 720.0 ABS Statement of Financial Position (SRF 720.0) is used by the Australian Bureau of Statistics (ABS) for compilation of the Australian National Accounts and other publications. It may also be used by APRA for the purposes of prudential supervision and publication.

Application and commencement
    3.             This Reporting Standard applies to each registrable superannuation entity (RSE) licensee (RSE licensee) in respect of each relevant RSE within its business operations.[1]

    4.             For the purposes of this Reporting Standard, a 'relevant RSE' is an RSE, defined benefit RSE, pooled superannuation trust (PST) or eligible rollover fund (ERF) that had total assets equal to or greater than $200 million at the end of the most recent year of income at the time of reporting.

    5.             This Reporting Standard applies for reporting periods ending on or after 1 July 2017.

Information required
    6.             An