Document ID: chunk:federal_register_of_legislation:F2023L00708:front:0:p3
Version: federal_register_of_legislation:F2023L00708
Segment Type: other
Provision Reference: 
Character Range: 5651–8786

required by this Reporting Standard is provided by an agent who submits the information on the insurer's behalf, the insurer must:

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

       (b)          retain the completed copy.

    14.         An officer, or agent, of an insurer who submits the information under this Reporting Standard for, or on behalf of, the insurer must be authorised by either:

       (a)          the Principal Executive Officer of the insurer; or

       (b)          the Chief Financial Officer of the insurer.

Variations
    15.         APRA may, by written notice to the insurer, vary the reporting requirements of this Reporting Standard in relation to that insurer.

Transition
    16.         An insurer 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 insurer 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 an insurer was required to report under an old reporting standard, and the reporting documents were due before the date of revocation of the old reporting standard, the insurer is still required to provide any overdue reporting documents in accordance with the old reporting standard.

Interpretation
    17.         In this Reporting Standard:

       (a)          unless the contrary intention appears, words and expressions have the meanings given to them in Prudential Standard GPS 001 Definitions (GPS 001); and

       (b)          the following definitions are applicable:

       Appointed Auditor means an auditor appointed under paragraph 39(1)(a) of the Insurance Act;

       APRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998;

       Chief Financial Officer means the chief financial officer of the insurer, by whatever name called;

       financial year means the financial year (within the meaning in the Corporations Act 2001) of the insurer;

       general instruction guide refers to the general instruction guide set out in Attachment A of GRS 001;

       general insurer means a general insurer authorised under the Insurance Act 1973;

       Group Auditor has the meaning given in GPS 310;

       insurer means a general insurer within the meaning of section 11 of the Insurance Act 1973;

       Level 2 insurance group is defined in Attachment D of GPS 001;

       Principal Executive Officer means the principal executive officer of the insurer, by whatever name called, and whether or not he or she is a member of the governing board of the insurer;

       regulated institution is defined in GPS