Document ID: chunk:federal_register_of_legislation:F2018L01390:body:0:p12
Version: federal_register_of_legislation:F2018L01390
Segment Type: other
Provision Reference: 
Character Range: 30457–33535

(b)          to enable the disclosure to APRA of any information the APRA-regulated institution is required to provide under this Prudential Standard; and
       (c)          for giving or obtaining any consents required for the collection and use of any information:
(i)                   by the APRA-regulated institution to comply with the Fit and Proper Policy or this Prudential Standard; and
(ii)                   by APRA for its powers and functions under the Prudential Acts and the PHIPS Act.
47.         The Fit and Proper Policy must require that sufficient documentation for each fit and proper assessment is retained to demonstrate the fitness and propriety of the institution's current, and recently past, responsible persons.

Whistleblowing[25]
48.         The Fit and Proper Policy must include adequate provisions to allow whistleblowing if a person has information that a responsible person does not meet the APRA-regulated institution's fit and proper criteria. The Fit and Proper Policy must ensure that the APRA-regulated institution and its subsidiaries consent to the person providing that information to either the person responsible for conducting fit and proper assessments or APRA.
49.         The Fit and Proper Policy must include adequate provisions to allow persons who have information that the APRA-regulated institution has not complied with this Prudential Standard to provide that information to APRA.
50.         The Fit and Proper Policy must provide that the APRA-regulated institution and its subsidiaries consent to any person who held a responsible person position disclosing information or providing documents to APRA relating to their reasons for resignation, retirement or removal.
51.         An APRA-regulated institution must not, and must ensure that its subsidiaries do not, constrain, impede, restrict or discourage, whether by confidentiality clauses, policies or other means, any person from disclosing information or providing documents to APRA about matters referred to in paragraphs 48 to 50.[26]
52.         The Fit and Proper Policy must require that all provisions of the Policy encouraging whistleblowing, and the procedures related to whistleblowing, are adequately explained to directors and employees of the APRA-regulated institution and its subsidiaries who are likely to have information relevant to fit and proper assessments.
53.         APRA does not require that an APRA-regulated institution impose an obligation on any person to make the disclosures under paragraphs 48 to 50. However, the Fit and Proper Policy must require that all reasonable steps be taken to ensure that no person making such disclosures in good faith is subject to, or threatened with, a detriment because of any notification in purported compliance with the requirements of the Fit and Proper Policy.

When a responsible person is not fit and proper
54.         Where an APRA-regulated institution has assessed that a person is not fit and proper, or a reasonable person in the APRA-regulated institution's position would make that