Document ID: chunk:federal_register_of_legislation:C2025C00134:section:34c:p1
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 34C (pt 1/3)
Character Range: 274742–277728

34C  APRA may determine prudential standards
 (1) APRA may determine (in writing) standards (prudential standards) relating to prudential matters that must be complied with by:
 (a) all RSE licensees of registrable superannuation entities; or
 (b) the connected entities of all RSE licensees of registrable superannuation entities; or
 (c) a specified class of RSE licensees of registrable superannuation entities; or
 (d) a specified class of connected entities of RSE licensees of registrable superannuation entities; or
 (e) one or more specified RSE licensees of registrable superannuation entities; or
 (f) one or more specified connected entities of RSE licensees of registrable superannuation entities.
 (2) A prudential standard may impose different requirements to be complied with:
 (a) by different classes of RSE licensees of registrable superannuation entities or connected entities of RSE licensees of registrable superannuation entities; or
 (b) in different situations; or
 (c) in respect of different activities.
 (3) Without limiting the prudential matters in relation to which APRA may determine a prudential standard, a prudential standard may require the following entities to ensure that the entity's connected entities (or particular connected entities), or the entity and the entity's connected entities (or particular connected entities), collectively satisfy particular requirements:
 (a) each RSE licensee of a registrable superannuation entity;
 (b) each RSE licensee of a registrable superannuation entity included in a specified class of RSE licensees;
 (c) a specified RSE licensee of a registrable superannuation entity;
 (d) each of 2 or more RSE licensees of registrable superannuation entities.
 (4) A prudential matter is a matter relating to:
 (a) the conduct by an RSE licensee of a registrable superannuation entity of the affairs of the registrable superannuation entity, or the affairs of a connected entity of the RSE licensee, in such a way as to:
 (i) protect the interests of the beneficiaries of the registrable superannuation entity; or
 (ii) meet the reasonable expectations of the beneficiaries of the registrable superannuation entity; or
 (b) the conduct by a connected entity of an RSE licensee of a registrable superannuation entity of the affairs of the connected entity in such a way as to:
 (i) protect the interests of the beneficiaries of the registrable superannuation entity; or
 (ii) meet the reasonable expectations of the beneficiaries of the registrable superannuation entity; or
 (c) the conduct by an RSE licensee of a registrable superannuation entity of the affairs of the licensee in such a way as:
 (i) to keep itself in a sound financial position; or
 (ii) not to cause or promote instability in the Australian financial system; or
 (d) the conduct by an RSE licensee of a registrable superannuation entity of the affairs of the registrable superannuation entity in such a way as not to cause or promote instability