Document ID: chunk:federal_register_of_legislation:F2023L01225:body:0:p7
Version: federal_register_of_legislation:F2023L01225
Segment Type: other
Provision Reference: 
Character Range: 17104–20051

that allow it to identify, to the extent practicable, each unique account-holder who holds a protected account;

       (c)          the ADI is able to calculate an SCV for each unique account-holder identified and transmit those data to APRA, or to a person nominated by APRA, as required by this Prudential Standard;

       (d)          the ADI is able to generate and transmit payment instruction information for FCS purposes to the RBA, or another paying agent nominated by APRA, as required by this Prudential Standard;

       (e)          the ADI is able to generate and transmit reporting information to APRA, an account-holder, the ATO and any other party nominated by APRA, as required by this Prudential Standard;

       (f)           the ADI's systems and associated controls are adequate for the purposes of ensuring that data generated by SCV systems are complete and accurate, to the extent practicable;

       (g)          the ADI's systems and associated controls are adequate for the purposes of ensuring that the FCS payment and reporting information generated and transmitted by the ADI's systems, including the ability to capture alternative ADI account data, are complete and accurate;

       (h)          the ADI is able to comply with the communications requirements set out in this Prudential Standard; and

       (i)            the ADI is able to comply with the testing requirements set out in this Prudential Standard.

    33.         If the CEO is unable to provide the attestation required by paragraph 31 of this Prudential Standard without qualification, the CEO must set out in the attestation the reasons why he or she is unable to make an unqualified attestation.

    34.         An ADI may provide the attestation required at paragraph 31 of this Prudential Standard at the same time and as part of the declarations required by APS 310.

Adjustments and exclusions
    35.         APRA may adjust or exclude a specific prudential requirement in this Prudential Standard in relation to one or more specified ADIs.[6]

Previous exercise of discretion
    36.         An ADI must contact APRA if it seeks to place reliance, for the purposes of complying with this Prudential Standard, on a previous exemption or other exercise of discretion by APRA under a previous version of this Prudential Standard.

Attachment A

This Attachment sets out the data that an ADI must include as part of each account-holder's SCV (refer to Table 1 for data items to be included). The data are necessary to ensure the integrity of the SCV. The SCV will ensure the identification of protected accounts for each unique account-holder, thereby facilitating the timely and accurate payment of FCS balances to account-holders in the event that an ADI is declared by the Minister under section 16AD of the Banking Act.

Account-holder information
     1. An ADI must identify each unique account-holder, to the extent