{"id":"F2016L01086","name":"Financial Sector (Collection of Data) exemption No. 1 of 2016","slug":"financial-sector-collection-of-data-exemption-no-1-of-2016","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":129356,"registerId":"commonwealth-F2016L01086-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Financial Sector (Collection of Data) exemption No. 1 of 2016","content":"![](image.001.png)\n\nFinancial Sector (Collection of Data) exemption No. 1 of 2016\n\nReporting Standard ARS 396.0 Points of Presence\n\nFinancial Sector (Collection of Data) Act 2001\n\nI, Steve Davies, delegate of APRA, under paragraph 16(1B)(b) of the Financial Sector (Collection of Data) Act 2001 (the Act), EXEMPT financial sector entities from the requirement to comply with the requirement specified in the Schedule attached to this instrument.\n\nThis instrument commences upon registration on the Federal Register of Legislation.\n\nDated: 24 June 2016\n\n\\[Signed\\]\n\nSteve Davies\n\nGeneral Manager\n\nStatistics\n\nInterpretation\n\nIn this Determination:\n\nAPRA means the Australian Prudential Regulation Authority.\n\nfinancial sector entity has the meaning given by section 5 of the Act.\n\nSchedule\n\nThe requirement under Reporting Standard ARS 396.0 Points of Presence to report data in the “Other” category in Item 4.3 of Reporting Form ARF 396.0 Points of Presence.\n\nNote: The reporting forms and the associated instruction guides form part of the reporting standards.","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This is a standard, narrow exemption instrument that operates exactly within the intended scope of the Financial Sector (Collection of Data) Act 2001. It uses the specific exemption power in section 16(1B)(b) to relieve entities from a minor reporting requirement. There is no evidence of scope creep or expansion beyond the original legislative purpose."},"complexity_factors":["Very short instrument (under 300 words)","Only 2 defined terms in the interpretation section","Single, clearly identified exemption with no conditional logic or exceptions","No cross-references to other legislation beyond the enabling Act section","Straightforward commencement clause (registration on Federal Register)"],"plain_english_summary":"**What this is:** An official exemption issued by APRA (the Australian Prudential Regulation Authority) that lets financial sector entities skip a specific reporting requirement.\n\n**Who it affects:** Banks, insurers, superannuation funds, and other financial institutions that normally have to submit data to APRA under the *Financial Sector (Collection of Data) Act 2001*.\n\n**What it does:**\n- Normally, these entities must file **Reporting Standard ARS 396.0** about their \"Points of Presence\" (physical locations like branches and ATMs where customers can access services).\n- Specifically, they don't have to report data for the **\"Other\" category** in **Item 4.3** of the form **ARF 396.0**.\n- This \"Other\" category likely covers miscellaneous or less common types of customer access points that don't fit standard categories.\n\n**Why it matters:**\n- **Reduces red tape:** Financial institutions save time and resources by not having to collect and report this specific data point.\n- **Targeted relief:** The exemption is narrow—it only removes one specific reporting obligation, not the entire standard.\n- **APRA's discretion:** This shows how APRA uses its powers under the Act to adjust reporting burdens based on practical needs (likely because this particular data wasn't useful enough to justify the cost of collection).\n\n**Key terms explained:**\n- **APRA:** The government agency that supervises banks, insurance companies, and superannuation funds to ensure they're financially sound.\n- **Delegate:** Someone given legal authority to act on behalf of an organisation (here, Steve Davies acting for APRA).\n- **Reporting Standard:** A legally binding rule about what financial data must be collected and how it must be submitted."},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":true,"description":"This instrument narrows the reporting obligations set by Reporting Standard ARS 396.0 by removing the requirement to report data in the \"Other\" category for Item 4.3 of Reporting Form ARF 396.0 (Schedule). Mechanically, entities that would otherwise have to supply that data are exempted; the instrument contains no stated end date or conditions and takes effect on registration (commencement clause; Schedule)."},"complexity_factors":["Very narrow substantive change: exempts a single reporting item (\"Other\" in Item 4.3 of ARF 396.0).","Relies on external documents: meaning and practical effect depend on definitions in ARF 396.0 and its instruction guide (forms are incorporated by reference).","Use of delegated power: made under paragraph 16(1B)(b) by an APRA delegate (requires locating the parent Act for full authority context).","No temporal conditions or procedural detail: instrument omits expiry, criteria, or implementation guidance, increasing need to consult other sources for operational clarity.","Defined-term dependency: applies to \"financial sector entity\" as defined in section 5 of the Act (requires cross-reference to understand the population covered)."],"plain_english_summary":"This instrument, made by an APRA delegate under the Financial Sector (Collection of Data) Act, exempts financial sector entities from supplying the \"Other\" category in Item 4.3 of Reporting Form ARF 396.0 (Points of Presence). It takes effect on registration. Practically, affected entities shed that single reporting obligation and associated costs, while APRA will no longer receive that specific data; the exemption remains until expressly varied or revoked."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-exemption-no-1-of-2016","history":"/api/acts/financial-sector-collection-of-data-exemption-no-1-of-2016/history","analysis":"/api/acts/financial-sector-collection-of-data-exemption-no-1-of-2016/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-exemption-no-1-of-2016/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-exemption-no-1-of-2016/important-cases","documents":"/api/acts/financial-sector-collection-of-data-exemption-no-1-of-2016/documents"}}