Document ID: chunk:federal_register_of_legislation:C2025C00165:section:62a:p2
Version: federal_register_of_legislation:C2025C00165
Segment Type: section
Provision Reference: s 62A (pt 2/2)
Character Range: 342198–343693

actual or potential financial loss arising or that will arise from the breach:
 (i) to the depositors of the ADI or any ADI that is a member of the relevant group of bodies corporate; or
 (ii) to the member or other member;
 (e) any matters prescribed by the regulations for the purposes of this paragraph.

Defence if auditor notifies breach
 (1D) Subsection (1B) does not apply in relation to a breach if:
 (a) an auditor of the member of the group gives APRA a written report about the breach; and
 (b) the report is given before, or within 10 business days after, the member becomes aware of the breach.
Note: The defendant bears an evidential burden in relation to the matters in subsection (1D). See subsection 13.3(3) of the Criminal Code.
 (2) If an individual:
 (a) commits an offence against subsection (1) or (1B) because of Part 2.4 of the Criminal Code; or
 (b) commits an offence under Part 2.4 of the Criminal Code in relation to an offence against subsection (1) or (1B);
he or she is punishable, on conviction, by a fine not exceeding 40 penalty units.
 (3) A notification or report given to APRA of a matter mentioned in paragraph (1)(a) or (1B)(a) must not include information, books, accounts or documents with respect to the affairs of an individual customer of an ADI unless the information, books, accounts or documents are in respect of prudential matters relating to:
 (a) the ADI; or
 (b) any member of a relevant group of bodies corporate of which the ADI is a member.