Document ID: chunk:federal_register_of_legislation:F2023L00725:front:0:p3
Version: federal_register_of_legislation:F2023L00725
Segment Type: other
Provision Reference: 
Character Range: 5572–8471

the Level 2 insurance group for the internal review and authorisation of that information. It is the responsibility of the Board and senior management of the parent entity of the Level 2 insurance group to ensure that an appropriate set of policies and procedures for the authorisation of information submitted to APRA is in place.

    12.         Under Prudential Standard GPS 310 Audit and Related Matters (GPS 310), the Group Auditor of a Level 2 insurance group is not ordinarily required to provide a limited assurance review in relation to information provided by the parent entity of the Level 2 insurance group under this Reporting Standard.

Authorisation
    13.         When an officer, or agent, of a parent entity of a Level 2 insurance group provides the information required by this Reporting Standard using an electronic format the officer, or agent, must digitally sign the relevant information using a digital certificate acceptable to APRA.

    14.         If the information required by this Reporting Standard is provided by an agent who submits the information on the parent entity of a Level 2 insurance group's behalf, the parent entity of the Level 2 insurance group must:

       (a)          obtain from the agent a copy of the completed information provided to APRA; and

       (b)          retain the completed copy.

    15.         An officer, or agent, of the parent entity of a Level 2 insurance group who submits the information under this Reporting Standard for, or on behalf of, the parent entity of a Level 2 insurance group must be authorised by either:

       (a)          the Principal Executive Officer of the parent entity of the Level 2 insurance group; or

       (b)          the Chief Financial Officer of the parent entity of the Level 2 insurance group.

Variations
    16.         APRA may, by written notice to the parent entity of a Level 2 insurance group, vary the reporting requirements of this Reporting Standard in relation to that Level 2 insurance group.

Transition
    17.         A parent entity of a Level 2 insurance group must report under the old reporting standard in respect of a transitional reporting period. For these purposes:

    old reporting standard means the reporting standard revoked in the determination making this Reporting Standard; and

    transitional reporting period means a reporting period under the old reporting standard:

       (a)          which ended before 1 July 2023; and

       (b)          in relation to which the parent entity of a Level 2 insurance group was required, under the old reporting standard, to report by a date on or after the date of revocation of the old reporting standard.

    Note: For the avoidance of doubt, if the parent entity of a Level 2 insurance group was required to report under an old reporting standard, and the reporting documents were due before