Document ID: chunk:federal_register_of_legislation:F2015L01999:body:0:p13
Version: federal_register_of_legislation:F2015L01999
Segment Type: other
Provision Reference: 
Character Range: 37301–41434

quasi corporations that are licensed by the Australian Prudential Regulation Authority (APRA) to operate as a bank and authorised to use 'Bank' or 'Banker' in their business name. They are part of the Authorised Deposit-taking Institutions (ADIs) that are authorised under the Banking Act 1959 to take deposits from customers. A list of resident banks can be found on the APRA website at http://www.apra.gov.au.

                                                   Includes: banks listed on the APRA website under the categories Australian owned banks, foreign subsidiary banks and branches of foreign banks.

                                                   Excludes: Reserve Bank of Australia (RBA); credit unions and building societies (included as other deposit-taking institutions); and non-resident banks.

Other deposit-taking institutions                  Represents authorised deposit-taking institutions that are not classified as banks as well as corporations registered under the Financial Sector (Collection of Data) Act 2001.

                                                   A list of non-bank deposit-taking institutions and Registered Financial Corporations (RFCs) can be found on the APRA website at http://www.apra.gov.au.

                                                   Includes: credit unions, building societies and Registered Financial Corporations (RFCs) listed on the APRA website.

                                                   Excludes: banks listed on the APRA website under the categories Australian owned banks, foreign subsidiary banks and branches of foreign banks.

Superannuation funds                               Represents funds established to provide benefits for their members on retirement, resignation, death or disablement. A superannuation fund usually takes the legal form of a trust fund. Self-Managed Superannuation Funds (SMSFs) are regulated by the Australian Tax Office and all other funds are regulated by the Australian Prudential Regulation Authority.

                                                   Includes: pooled superannuation trusts; approved deposit funds; public sector superannuation funds (including Superannuation Industry (Supervision) Act 1993-exempt funds); private sector superannuation funds e.g. retail or industry super funds; and SMSFs.

                                                   Excludes: Future Fund (included as Australian Commonwealth government).

Life insurance and friendly societies              Represents entities registered under the Life Insurance Act 1995 and are regulated by the Australian Prudential Regulation Authority (APRA). They offer insurance for death or disability and also offer investment and superannuation products. A list of life insurance companies and friendly societies can be found on the APRA website at http://www.apra.gov.au.

                                                   Includes: life insurance companies, life reinsurance companies and friendly societies.

                                                   Excludes: insurance companies offering house, car and marine insurance (included as general insurance corporations); non-life reinsurance companies; life insurance brokers (included as financial auxiliaries).

General and health insurance corporations          Represents insurance corporations registered as a general insurance company or health insurance company with the Australian Prudential Regulation Authority (APRA).

                                                   Includes: the Export Finance Insurance Corporation (EFIC); private sector and government-owned general insurance enterprises; non-life reinsurance companies; private sector and government-owned health insurance enterprises.

                                                   Excludes: life insurance companies, life reinsurance companies and friendly societies; insurance brokers (included as financial auxiliaries).

Insurance corporations                             Represents entities that are life insurance (including friendly societies), general insurance and health insurance corporations.

State