Document ID: chunk:federal_register_of_legislation:F2015L01998:body:0:p15
Version: federal_register_of_legislation:F2015L01998
Segment Type: other
Provision Reference: 
Character Range: 45893–50067

companies providing financial services to the public such as banks and insurance companies; property and infrastructure trusts.

Trading enterprises owned by the Australian Commonwealth government  Represents trading enterprises that are owned and controlled by the Australian Commonwealth government.

                                                                     Includes: Australia Post; Snowy Hydro Ltd etc.; NBN Co Limited; Air Services Australia.

                                                                     Excludes: government departments (included as Australian Commonwealth government); government-owned financial institutions (included as financial corporations).

Trading enterprises owned by state, territory and local government   Represents trading enterprises that are owned and controlled by state, territory or local governments.

                                                                     Includes: non-privatised power authorities; housing commissions; port authorities; water boards; gas and fuel authorities.

                                                                     Excludes: central borrowing authorities or treasury corporations; government-owned financial institutions (included as financial corporations); government departments (included as state, territory and local government); privatised enterprises (included as private trading enterprises).

Financial corporations

Reserve Bank of Australia (RBA)                    Represents Australia's central bank. Its main responsibilities include managing monetary policy and maintaining the stability of the financial system. The Bank is an active participant in financial markets, manages Australia's foreign reserves, issues Australian currency notes and serves as the banker to the Australian Government and the banking system.

Banks                                              Represents financial corporations and 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 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);