Document ID: chunk:federal_register_of_legislation:C2025C00165:section:11af:p1
Version: federal_register_of_legislation:C2025C00165
Segment Type: section
Provision Reference: s 11AF (pt 1/2)
Character Range: 65690–68434

11AF  APRA may make prudential standards for ADIs and authorised NOHCs
 (1) APRA may, in writing, determine standards in relation to prudential matters to be complied with by:
 (a) all ADIs; or
 (b) all authorised NOHCs; or
 (c) the subsidiaries of ADIs or authorised NOHCs; or
 (d) a specified class of ADIs, authorised NOHCs or subsidiaries of ADIs or authorised NOHCs; or
 (e) one or more specified ADIs, authorised NOHCs or subsidiaries of ADIs or authorised NOHCs.
 (1A) A standard may impose different requirements to be complied with:
 (a) in different situations; or
 (b) in respect of different activities;
including requirements to be complied with by different classes of ADIs, authorised NOHCs or subsidiaries of ADIs or authorised NOHCs.
 (1AA) Without limiting the prudential matters in relation to which APRA may determine a standard, a standard may require:
 (a) each ADI or authorised NOHC; or
 (b) each ADI or authorised NOHC included in a specified class of ADIs or authorised NOHCs; or
 (ba) each subsidiary of an ADI or of an authorised NOHC; or
 (bb) each subsidiary of an ADI or of an authorised NOHC, included in a specified class of subsidiaries; or
 (c) a specified ADI or authorised NOHC; or
 (d) each of 2 or more specified ADIs or authorised NOHCs; or
 (e) a specified subsidiary of an ADI or of an authorised NOHC; or
 (f) each of 2 or more specified subsidiaries of ADIs or of authorised NOHCs;
to ensure that its subsidiaries (or particular subsidiaries), or it and its subsidiaries (or particular subsidiaries), collectively satisfy particular requirements in relation to prudential matters.
 (1AB) Without limiting the prudential matters in relation to which APRA may determine a standard, a standard may provide for matters relating to:
 (a) the appointment of auditors; or
 (b) the conduct of audits.
 (2) A standard may provide for APRA to exercise powers and discretions under the standard, including (but not limited to) discretions to approve, impose, adjust or exclude specific prudential requirements in relation to one or more specified ADIs or authorised NOHCs, or one or more specified subsidiaries of ADIs or authorised NOHCs.
 (3) APRA may, in writing, vary or revoke a standard.
 (3A) A standard referred to in paragraph (1)(d), or an instrument varying or revoking such a standard, has effect:
 (a) from the day on which the standard, variation or revocation is made; or
 (b) if the standard, variation or revocation specifies a later day—from that later day.
 (4A) If APRA determines or varies a standard referred to in paragraph (1)(e) it must, as soon as practicable:
 (a) give a copy of the standard, or of the variation, to the ADI, authorised NOHC or subsidiary, or to each ADI, authorised