[pic] Australian Prudential Regulation Authority Regulations 1998 Statutory Rules 1998 No. 200 as amended made under the Australian Prudential Regulation Authority Act 1998 This compilation was prepared on 9 August 2008 taking into account amendments up to SLI 2008 No. 169 Prepared by the Office of Legislative Drafting and Publishing, Attorney-General's Department, Canberra Contents 1 Name of Regulations [see Note 1] 3 2 Commencement [see Note 1] 3 3 Definition 3 3A Cooperation with other agencies 3 4 Liability to fringe benefits taxation (Act, s 55 (2)) 3 4A Prescription of prudential regulation framework laws 4 5 Secrecy - disclosure of protected information or production of protected document to specified agencies (Act s 56 (5)) 4 Notes 6 1 Name of Regulations [see Note 1] These Regulations are the Australian Prudential Regulation Authority Regulations 1998. 2 Commencement [see Note 1] These Regulations commence when the Australian Prudential Regulation Authority Act 1998 commences. 3 Definition In these Regulations: Act means the Australian Prudential Regulation Authority Act 1998. 3A Cooperation with other agencies For subsection 10A (1) of the Act, the following agencies are specified: (a) the Council of Financial Regulators; (b) the Financial Reporting Council mentioned in section 225 of the Australian Securities and Investments Commission Act 2001. Note Under subitem 7 (2) of Schedule 3 to the Australian Prudential Regulation Authority Amendment Act 2003, regulations in force under paragraph 56 (5) (a) of the Act immediately before the commencement of that Amendment Act have effect after that commencement of the Amendment Act as if they were also made under subsection 10A (1) of the Act. 4 Liability to fringe benefits taxation (Act, s 55 (2)) For subsection 55 (2) of the Act, subsection 55 (1) of the Act does not apply in relation to the Fringe Benefits Tax Assessment Act 1986. 4A Prescription of prudential regulation framework laws For paragraph (o) of the definition of prudential regulation framework law in subsection 3 (1) of the Act, the Royal Commissions Act 1902 is prescribed for the purposes of section 56 of the Act. 5 Secrecy - disclosure of protected information or production of protected document to specified agencies (Act s 56 (5)) The following agencies are specified for the purposes of paragraph 56 (5) (a) of the Act: (a) the Private Health Insurance Administration Council established under section 82B of the National Health Act 1953; (b) the Department of Health and Ageing; (c) the Reserve Bank of Australia; (d) the Australian Bureau of Statistics established under section 5 of the Australian Bureau of Statistics Act 1975; (e) the Australian Federal Police established under section 6 of the Australian Federal Police Act 1979; (f) the Police Force of a State or Territory; (g) for protected information or a protected document that: (i) relates to: (A) superannuation; or (B) a function or power of the Commissioner under the First Home Saver Accounts Act 2008; and (ii) is covered by at least 1 of the following Acts: (A) the First Home Saver Accounts Act 2008; (B) the Retirement Savings Accounts Act 1997; (C) the Superannuation Industry (Supervision) Act 1993; (D) the Superannuation (Excluded Funds) Taxation Act 1987; the Commissioner of Taxation; Note Subsection 3 (1) of the First Home Saver Accounts Act 2008 sets out the provisions of that Act for which the Commissioner has general administration. (h) The Department of the Treasury; (i) the Commission of Inquiry, established under the Royal Commissions Act 1902 by letters patent dated 29 August 2001, into certain matters relating to the failure of HIH Insurance Group; (j) the Australian Transaction Reports and Analysis Centre (AUSTRAC) continued in existence by force of subsection 209 (1) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006; (k) the Australian Crime Commission established by section 7 of the Australian Crime Commission Act 2002; (l) the Superannuation Complaints Tribunal established by section 6 of the Superannuation (Resolution of Complaints) Act 1993; (m) the Council of Financial Regulators; (n) the Financial Reporting Council mentioned in section 225 of the Australian Securities and Investments Commission Act 2001. Notes to the Australian Prudential Regulation Authority Regulations 1998 Note 1 The Australian Prudential Regulation Authority Regulations 1998 (in force under the Australian Prudential Regulation Authority Act 1998) as shown in this compilation comprise Statutory Rules 1998 No. 200 amended as indicated in the Tables below. Under the Legislative Instruments Act 2003, which came into force on 1 January 2005, it is a requirement for all non-exempt legislative instruments to be registered on the Federal Register of Legislative Instruments. From 1 January 2005 the Statutory Rules series ceased to exist and was replaced with Select Legislative Instruments (SLI series). Numbering conventions remain the same, ie Year and Number. Table of Instruments |Year and |Date of |Date of |Application,| |number |notification|commencement |saving or | | | | |transitional| | |in Gazette | |provisions | | |or FRLI | | | | |registration| | | |1998 No. 200|30 June 1998|1 July 1998 (see | | | | |r. 1 and Gazette | | | | |1998, No. S316) | | |1999 No. 141|30 June 1999|(a) |- | |1999 No. 246|27 Oct 1999 |27 Oct 1999 |- | |2001 No. 227|30 Aug 2001 |30 Aug 2001 |- | |2001 No. 256|28 Sept 2001|28 Sept 2001 |- | |2002 No. 64 |5 Apr 2002 |5 Apr 2002 |- | |2002 No. 326|20 Dec 2002 |1 Jan 2003 (see |- | | | |r. 2) | | |2003 No. 163|1 July 2003 |1 July 2003 |- | |2004 No. 277|26 Aug 2004 |26 Aug 2004 |- | |2007 No. 118|14 May 2007 |15 May 2007 |- | | |(see | | | | |F2007L01286)| | | |2008 No. 169|8 Aug 2008 |9 Aug 2008 |- | | |(see | | | | |F2008L02947)| | | (a) The Australian Prudential Regulation Authority Regulations 1998 was amended by the Australian Prudential Regulation Authority Amendment Regulations 2001 (No. 2) regulation 2 of which provides as follows: These regulations commence on the commencement of Schedule 4 to the Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999. Schedule 4 commenced at the transfer time. The transfer time occurred on 1 July 1999 (see Gazette 1999, No. S283). Table of Amendments |ad. = added or inserted am. = amended rep. = | |repealed rs. = repealed and substituted | |Provision affected|How affected | |R. 3A |ad. 2004 No. 277 | |R. 4A |ad. 2001 No. 227 | | |rs. 2008 No. 169 | |R. 5 |ad. 1999 No. 141 | | |am. 1999 No. 246; 2001 No. 256; 2002 | | |Nos. 64 and 326; 2003 No. 163; 2004 | | |No. 277; 2007 No. 118; 2008 No. 169 | |R. 6 |ad. 2003 No. 163 | | |rep. 2004 No. 277 |