Document ID: chunk:federal_register_of_legislation:F2024L00144:front:0:p1
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Financial Sector (Collection of Data) (reporting standard) determination No. 1 of 2024

Reporting Standard HRS 601.0 Statistical Data by State

Financial Sector (Collection of Data) Act 2001

I, Andrew Robertson, 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. 22 of 2016, including Reporting Standard HRS 601.0 Statistical Data by State made under that Determination; and

    (b)          determine Reporting Standard HRS 601.0 Statistical Data by State, 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 Reporting Standard HRS 601.0 Statistical Data by State shall begin to apply to those financial sector entities, and the revoked reporting standard shall cease to apply, at the start of the day after the instrument is registered on the Federal Register of Legislation.

This instrument commences at the start of the day after the instrument is registered on the Federal Register of Legislation.

Dated: 1 February 2024

Andrew Robertson
General Manager – Chief Data Officer
Technology and Data Division

Interpretation

      In this Determination:

APRA means the Australian Prudential Regulation Authority.

Federal Register of Legislation means the register established under section 15A of the Legislation Act 2003.

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

Schedule

Reporting Standard HRS 601.0 Statistical Data by State comprises the document commencing on the following page.

Reporting Standard HRS 601.0

Statistical Data by State

Objective of this Reporting Standard
This Reporting Standard sets out the requirements for the provision of information to APRA allowing for the calculation of the risk equalisation special account and calculation of levies in respect of private health insurers, administered by APRA.
It includes Form HRF 601.1 Statistical Data – Cover Page, Form HRF 601.1 Statistical Data - by State 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 under this Reporting Standard, as set out in Form HRF 601.1 Statistical Data - by State, is used by APRA for prudential supervision, risk equalisation purposes and for publication.

Application

    3.             This Reporting Standard applies to all private health insurers.

    4.             This Reporting Standard applies for reporting periods ending on or after
    31 March 2024.

Information required

    5.             A private health insurer must provide APRA with the information required by  Form HRF 601.1 Statistical Data - by State in respect of each reporting period.

    6.             The information required by this