Document ID: chunk:federal_register_of_legislation:F2024L00283:reg:9
Version: federal_register_of_legislation:F2024L00283
Segment Type: reg
Provision Reference: reg 9
Character Range: 10205–11444

9  Prescribed responsibilities for accountable entities that are foreign accountable entities
 (1) For the purposes of paragraph 10(2)(b) of the Act, each of the responsibilities listed in subsection (2) are prescribed in relation to a foreign accountable entity.
 (2) Each of the following responsibilities, relating to a foreign accountable entity, are prescribed:
 (a) senior executive responsibility for conduct of the activities of a branch of the foreign accountable entity that is operating in Australia;
 (b) if the foreign accountable entity is a foreign ADI or a foreign general insurer—responsibility for overseeing the operation of a branch operating in Australia as a senior officer outside Australia with delegated authority from the board of directors (or equivalent) of the foreign accountable entity;
 (c) if the foreign accountable entity is an eligible foreign life insurance company—responsibility for oversight of the foreign accountable entity as a member of its Compliance Committee for the purposes of section 16ZF of the Life Insurance Act 1995;
 (d) if the foreign accountable entity is a foreign general insurer—responsibility as an agent in Australia for the purposes of section 118 of the Insurance Act 1973.