Document ID: chunk:federal_register_of_legislation:F2015L00579:body:0:p1
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Financial Sector (Collection of Data) (reporting standard) determination No. 30 of 2015

Reporting Standard LRS 117.0 Asset Concentration Risk Charge

Financial Sector (Collection of Data) Act 2001

I, Ian Laughlin, 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. 50 of 2013, including Reporting Standard LRS 117.0 Asset Concentration Risk Charge, made under that Determination; and

    (b)          DETERMINE Reporting Standard LRS 117.0 Asset Concentration Risk Charge, 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 30 June 2015.

This instrument commences on 30 June 2015.

Dated: 17 April 2015

[Signed]

Ian Laughlin
Deputy Chairman

Interpretation
In this Determination:

APRA means the Australian Prudential Regulation Authority.

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

Reporting Standard LRS 117.0 Asset Concentration Risk Charge comprises the 13 pages commencing on the following page.

Reporting Standard LRS 117.0

Asset Concentration Risk Charge

Objective of this Reporting Standard

This Reporting Standard sets out the requirements for the provision of information to APRA in relation to calculating a life company's Asset Concentration Risk Charge.

It includes Form LRF 117.0 Asset Concentration Risk Charge and associated specific instructions and must be read in conjunction with the general instruction guide and Prudential Standard LPS 117 Capital Adequacy: Asset Concentration Risk Charge.

Authority

    1. This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001 (Collection of Data Act).

Purpose

    2.      Information collected in Form LRF 117.0 Asset Concentration Risk Charge (LRF 117.0) is used by APRA for the purpose of prudential supervision including assessing compliance with capital standards.

Application and commencement

    3.      This Reporting Standard applies to all life insurance companies including friendly societies (together referred to as 'life companies') registered under the Life Insurance Act 1995 (Life Insurance Act).

    4.      This Reporting Standard applies for reporting periods ending on or after 30 June 2015.

Information required

    5.      A life company to which this Reporting Standard applies must provide APRA with the information required by LRF 117.0 in respect of each reporting period.

    6.      The information reported to APRA under this Reporting Standard is not required to be given to policy owners pursuant to section 124 of the Life Insurance Act. It does not constitute a reporting document for the