{"id":"F2020L00433","name":"Financial Sector (Collection of Data) class of corporations determination No. 1 of 2020","slug":"financial-sector-collection-of-data-class-of-corporations-determination-no-1-of-2020","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":100955,"registerId":"commonwealth-F2020L00433-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Financial Sector (Collection of Data) cl","sectionType":"part","heading":"Financial Sector (Collection of Data) class of corporations determination No. 1 of 2020","content":"# ![](image.001.png)\n\n# Financial Sector (Collection of Data) class of corporations determination No. 1 of 2020\n\n# Financial Sector (Collection of Data) Act 2001\n\n## ![](image.002.png)\n\nSince APRA considers that the business activities of each corporation of the class of corporations specified in the Schedule includes the provision of finance, I, Sean Carmody, delegate of APRA, under paragraph 7(1A)(b) of the Financial Sector (Collection of Data) Act 2001 (the Act) determine the class of corporations specified in the Schedule for the purposes of paragraph 7(1)(b) of the Act.\n\nThis instrument commences on 16 April 2020.\n\nDated: 16 April 2020\n\n\\[Signed\\]\n\nSean Carmody\n\nExecutive Director\n\nCross-Industry Insights and Data Division\n\nInterpretation\n\nIn this Determination:\n\nAPRA means the Australian Prudential Regulation Authority.\n\n  \n\nSchedule – class of corporations that are registrable corporations\n\nCorporations granted a guarantee under section 5 of the Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Act 2020 that are not immediately prior to the grant:\n\n(i) registrable corporations within the meaning of section 7 of the Act; or\n\n(ii) authorised deposit-taking institutions within the meaning of the Banking Act 1959.","sortOrder":0},{"sectionNumber":"Financial Sector (Collection of Data) Ac","sectionType":"part","heading":"Financial Sector (Collection of Data) Act 2001","content":"# Financial Sector (Collection of Data) Act 2001\n\n## ![](image.002.png)\n\nSince APRA considers that the business activities of each corporation of the class of corporations specified in the Schedule includes the provision of finance, I, Sean Carmody, delegate of APRA, under paragraph 7(1A)(b) of the Financial Sector (Collection of Data) Act 2001 (the Act) determine the class of corporations specified in the Schedule for the purposes of paragraph 7(1)(b) of the Act.\n\nThis instrument commences on 16 April 2020.\n\nDated: 16 April 2020\n\n\\[Signed\\]\n\nSean Carmody\n\nExecutive Director\n\nCross-Industry Insights and Data Division\n\nInterpretation\n\nIn this Determination:\n\nAPRA means the Australian Prudential Regulation Authority.\n\n  \n\nSchedule – class of corporations that are registrable corporations\n\nCorporations granted a guarantee under section 5 of the Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Act 2020 that are not immediately prior to the grant:\n\n(i) registrable corporations within the meaning of section 7 of the Act; or\n\n(ii) authorised deposit-taking institutions within the meaning of the Banking Act 1959.","sortOrder":1}],"analysis":{"summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This determination establishes a new class of corporations, rather than amending an existing class determination."},"complexity_factors":["Cross-references two Acts and a guarantee scheme","Creates a new class of registrable corporations for data collection purposes","Applies only to a narrow subset of lenders during a temporary government program"],"plain_english_summary":"This determination brings non‑ADI lenders that received a Commonwealth SME loan guarantee during the COVID‑19 scheme into APRA’s Financial Sector (Collection of Data) regime, making them registrable corporations where they weren’t before. Affected non‑bank lenders now face ongoing data‑reporting obligations to APRA about their finance activities. The instrument commenced on 16 April 2020."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument operates exactly as intended — it is a targeted, time-limited expansion of reporting obligations to capture COVID-19 guarantee recipients. The scope remains narrow and purpose-built."},"complexity_factors":["Very short instrument (under 300 words)","Only 1 defined term ('APRA')","Single operative provision with straightforward conditional logic","No cross-references beyond the enabling Act and one other Act","No nested exceptions or complex temporal provisions","Clear commencement date"],"plain_english_summary":"**What this does:**\n\nThis is a short legal instrument made by APRA (the banking regulator) that expands who must report financial data to the government. It temporarily brings certain corporations under APRA's data collection rules.\n\n**Who it affects:**\n\nCorporations that received a government guarantee under the COVID-19 small business lending scheme — specifically, those that:\n- Got a guarantee under the *Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Act 2020*\n- Were **not** already regulated by APRA (not already \"registrable corporations\" or banks/ADIs)\n\n**Why it matters:**\n\nDuring the pandemic, the government guaranteed loans to small businesses through non-bank lenders. This determination ensures those lenders now have to report their financial data to APRA, even though they weren't previously regulated. This closes a reporting gap — the government needs to monitor these newly-supported lenders to understand risks in the financial system.\n\n**In simple terms:** If you got special government backing to lend money during COVID-19, you now have to tell APRA how you're going."},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"The instrument itself does not amend underlying legislation; it simply designates a class for the purposes of paragraph 7(1)(b) of the Financial Sector (Collection of Data) Act 2001. There is no indication in the text that it alters the statutory scope beyond identifying which guarantee recipients are to be treated as registrable corporations."},"complexity_factors":["Narrow, single-purpose instrument: defines one class by reference to guarantees under the Guarantee of Lending to SMEs Act (Schedule).","Cross-references to multiple statutes: depends on the Financial Sector (Collection of Data) Act 2001, the Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Act 2020 and the Banking Act 1959.","Delegated administrative decision: made by an APRA delegate (Sean Carmody) under paragraph 7(1A)(b) of the Act, creating administrative discretion.","Exclusions require factual assessment at time of guarantee (whether a corporation was already registrable or an ADI), creating evidentiary/compliance checks for firms.","Operational effect is administrative (data collection) rather than substantive market regulation, but imposes compliance costs on affected firms."],"plain_english_summary":"This determination, made by an APRA delegate, classifies as “registrable corporations” firms that received a guarantee under section 5 of the Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Act 2020, excluding entities already registrable or authorised deposit-taking institutions. It commenced on 16 April 2020.\n\nOnce classified, those firms fall under the Financial Sector (Collection of Data) Act 2001 data-collection regime: APRA can require them to supply information and they bear the compliance costs of reporting under that regime."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-class-of-corporations-determination-no-1-of-2020","history":"/api/acts/financial-sector-collection-of-data-class-of-corporations-determination-no-1-of-2020/history","analysis":"/api/acts/financial-sector-collection-of-data-class-of-corporations-determination-no-1-of-2020/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-class-of-corporations-determination-no-1-of-2020/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-class-of-corporations-determination-no-1-of-2020/important-cases","documents":"/api/acts/financial-sector-collection-of-data-class-of-corporations-determination-no-1-of-2020/documents"}}