Document ID: chunk:federal_register_of_legislation:F2024L00637:body:0:p8
Version: federal_register_of_legislation:F2024L00637
Segment Type: other
Provision Reference: 
Character Range: 18771–21601

providing information to APRA[23]
48.         No prospective, current, or former officer, employee or contractor (including professional service provider) of an RSE licensee may be constrained or impeded, whether by confidentiality clauses or other means, from disclosing information to APRA, from discussing issues with APRA of relevance to the management and prudential supervision of the RSE licensee, or from providing documents under their control to APRA, that may be relevant in the context of the management or prudential supervision of the RSE licensee. Such persons are not to be constrained or impeded from providing information to, as applicable, auditors, actuaries and others, who have statutory responsibilities in relation to the RSE licensee.
49.         An RSE licensee must ensure that its internal policy and contractual arrangements do not explicitly or implicitly restrict or discourage auditors or other parties from communicating with APRA.

Adjustments and exclusions
50.         APRA may adjust or exclude a specific requirement in this Prudential Standard in relation to:
(a)          a particular RSE licensee of an RSE; or
(b)          specified RSE licensees of RSEs.[24]

Previous exercise of discretion
51.         An RSE licensee must contact APRA if it seeks to place reliance, for the purposes of complying with this Prudential Standard, on an exercise of discretion by APRA made under a previous version of this Prudential Standard.
[1]  For the purposes of this Prudential Standard, 'RSE licensee' has the meaning given in section 10(1) of the SIS Act.
[2]  For the purposes of this Prudential Standard, a reference to 'a director' is a reference to a director of an RSE licensee which has a Board of directors or, in the case of a group of individual trustees, an individual trustee and 'group of individual trustees' has the meaning given in section 10(1) of the SIS Act.
[3]  For the purposes of this Prudential Standard, 'RSE auditor', 'RSE actuary' and 'RSE licensee law' have the meaning given in section 10(1) of the SIS Act.
[4]  For the purposes of this Prudential Standard, an 'RSE licensee's business operations' includes all activities as an RSE licensee (including the activities of each RSE of which it is the licensee), and all other activities of the RSE licensee to the extent that they are relevant to, or may impact on, its activities as an RSE licensee.
[5]  For the purposes of this Prudential Standard, a reference to 'beneficiaries' is a reference to 'beneficiaries of an RSE within the RSE licensee's business operations'.
[6]  For the purposes of this Prudential Standard, a reference to a 'connected entity' has the meaning given in subsection 10(1) of the SIS Act.
[7]  For the purposes of this Prudential Standard, a reference to 'a group' is a reference to a group