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Financial Sector (Collection of Data) (reporting standard) determination No. 23 of 2015

Reporting Standard SRS 711.0 SuperStream Benchmarking Measures

Financial Sector (Collection of Data) Act 2001

I, Charles Littrell, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) DETERMINE Reporting Standard SRS 711.0 SuperStream Benchmarking Measures, 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 on 1 July 2015 and shall cease to apply after 30 June 2019.

This instrument commences on the date of registration on the Federal Register of Legislative Instruments.

Dated: 10 June 2015

[Signed]

Charles Littrell
Executive General Manager
Policy, Statistics and International Division

Interpretation

In this Determination:

APRA means the Australian Prudential Regulation Authority.

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

Schedule

Reporting Standard SRS 711.0 SuperStream Benchmarking Measures comprises the 9 pages commencing on the following page.

Reporting Standard SRS 711.0

SuperStream Benchmarking Measures

Objective of this Reporting Standard
This Reporting Standard sets out the requirements for the provision of information to APRA relating to the contribution transactions of a registrable superannuation entity.
It includes Form SRF 711.0 SuperStream Benchmarking Measures 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 in Form SRF 711.0 SuperStream Benchmarking Measures (SRF 711.0) is primarily used by the Treasury. It may also be used by the Australian Taxation Office and APRA.

Application and commencement

    3.             This Reporting Standard applies to each registrable superannuation entity (RSE) licensee (RSE licensee) in respect of each RSE and defined benefit RSE within its business operations.[1]

    4.             This Reporting Standard applies for reporting periods commencing on or after 1 July 2015 and ending on or before 30 June 2019.

Information required

    5.             An RSE licensee to which this Reporting Standard applies must provide APRA with the information required by SRF 711.0 in respect of each reporting period.

Forms and method of submission

    6.             The information required by this Reporting Standard must be given to APRA in electronic format using the 'Direct to APRA' application or, where 'Direct to APRA' is not available, by a method notified by APRA, in writing, prior to submission.

    Note: the 'Direct to APRA' application software (also known as 'D2A') may be obtained from APRA.

Reporting periods and due dates

    7.             Subject to paragraph 8, an RSE licensee to which this Reporting Standard applies must provide the information required