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Financial Sector (Collection of Data) (reporting standard) determination No. 17 of 2015

Reporting Standard SRS 602.0 Wind-up

Financial Sector (Collection of Data) Act 2001

I, Charles Littrell, delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (the Act) and subsection 33(3) of the Acts Interpretation Act 1901:

    (a) REVOKE Financial Sector (Collection of Data) (reporting standard) determination No. 88 of 2013, including Reporting Standard SRS 602.0 Wind-up made under that Determination; and

    (b) DETERMINE Reporting Standard SRS 602.0 Wind-up, in the form set out in the Schedule, which applies to the financial sector entities to the extent provided in paragraph 3 of the reporting standard.

Under section 15 of the Act, I DECLARE that the reporting standard shall begin to apply to those financial sector entities, and the revoked reporting standard shall cease to apply, on 1 July 2015.

This instrument commences on the date of registration on the Federal Register of Legislative Instruments.

Dated:  10 June 2015

[Signed]

Charles Littrell
Executive General Manager
Policy, Statistics and International Division

Interpretation

In this Determination:

APRA means the Australian Prudential Regulation Authority.

financial sector entity has the meaning given by section 5 of the Act.

Schedule

Reporting Standard SRS 602.0 Wind-up comprises the 10 pages commencing on the following page.

Reporting Standard SRS 602.0

Wind-up

Objective of this Reporting Standard
This Reporting Standard sets out the requirements for the provision of information to APRA in the event of the winding up of a registrable superannuation entity.
It includes Form SRF 602.0 Wind-up and associated specific instructions and must be read in conjunction with the additional reporting standards required to be lodged as part of the wind-up return.

Authority

     1. This Reporting Standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001.

Purpose

    2.             Information collected in Form SRF 602.0 Wind-up (SRF 602.0) is used by APRA for the purposes of prudential supervision and publication. It may also be used by the Australian Bureau of Statistics.

Application and commencement

    3.             This Reporting Standard applies to each registrable superannuation entity (RSE) licensee (RSE licensee) in respect of each RSE, defined benefit RSE, pooled superannuation trust (PST), eligible rollover fund (ERF), small APRA fund (SAF) or single member approved deposit fund (SMADF) that winds up within its business operations.[1]

    4.             This Reporting Standard applies to decisions or resolutions to wind up an RSE, defined benefit RSE, PST, ERF, SAF or SMADF made on or after 1 July 2015.[2]

Information required

    5.             An RSE licensee to which this Reporting Standard applies must provide APRA with the information required by SRF 602.0 in respect of each RSE, defined benefit RSE, PST, ERF, SAF or SMADF that