Document ID: chunk:federal_register_of_legislation:C2018A00005:clause:1_37d
Version: federal_register_of_legislation:C2018A00005
Segment Type: clause
Provision Reference: sch 1 cl 37D
Character Range: 15910–17200

37D  The key personnel obligations of an ADI
 (1) The key personnel obligations of an ADI are:
 (a) subject to subsections (2) and (3), to ensure that the responsibilities of the accountable persons of the ADI and its subsidiaries cover:
 (i) all parts or aspects of the operations of the relevant group of bodies corporate that is constituted by the ADI and its subsidiaries; and
 (ii) each of the responsibilities to which subsection 37BA(2) applies; and
 (b) to ensure none of the accountable persons of the ADI are prohibited under section 37DA; and
 (c) to comply with any directions APRA gives to the ADI under section 37DB; and
 (d) to take reasonable steps to ensure that each of the ADI's subsidiaries that is not an ADI complies with paragraphs (b) and (c) as if the subsidiary were an ADI.
 (2) Paragraph (1)(a) does not apply in relation to a responsibility excluded by APRA under subsection 37BB(2) or (3).
 (3) If the ADI is a foreign ADI, the ADI's obligation under paragraph (1)(a) is taken to be an obligation to ensure that the responsibilities of the ADI's accountable persons cover:
 (a) all parts or aspects of the operations of each Australian branch of the ADI; and
 (b) for each Australian branch of the ADI, the responsibility to which subsection 37BA(6) applies.