{"id":"F2016L01320","name":"Financial Sector (Collection of Data) exemption No. 2 of 2016","slug":"financial-sector-collection-of-data-exemption-no-2-of-2016","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":94868,"registerId":"commonwealth-F2016L01320-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Financial Sector (Collection of Data) exemption No. 2 of 2016","content":"![](image.001.png)\n\nFinancial Sector (Collection of Data) exemption No. 2 of 2016\n\nReporting Standard SRS 703.0 Fees Disclosed\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 those financial sector entities to which SRS 703.0 applies from the requirement specified in the Schedule attached to this instrument.\n\nThis instrument commences upon registration on the Federal Register of Legislation.\n\nDated: 23 August 2016\n\n\\[Signed\\]\n\nSteve Davies\n\nGeneral Manager\n\nStatistics Division\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\nSRS 703.0 means Reporting Standard SRS 703.0 Fees Disclosed determined by APRA on 5 December 2013 by Financial Sector (Collection of Data) (reporting standard) determination No. 100 of 2013.\n\nSchedule\n\nThe requirement in paragraph 7(b) of SRS 703.0 to provide the information required by SRS 703.0 in respect of 30 June 2016.\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 exemption instrument maintains its original narrow purpose — providing a targeted, time-limited exemption from a specific reporting requirement. It has not expanded beyond its intended scope of relieving entities from the 30 June 2016 reporting obligation."},"complexity_factors":["Very short instrument (under 300 words)","Only 2 defined terms in the interpretation section","Single, straightforward exemption with no nested conditions","No cross-references to other legislation beyond the parent Act and the specific reporting standard","Clear, unambiguous scope limited to one reporting date (30 June 2016)"],"plain_english_summary":"This exemption from APRA lets regulated financial institutions (banks, insurers, super funds and similar entities) skip the SRS 703.0 fee-disclosure reporting obligation specifically for the 30 June 2016 reporting date. It’s a one-off relief that removes the requirement to submit that particular dataset while leaving other SRS 703.0 obligations intact."},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":true,"description":"Yes. The instrument narrows the reporting obligations under SRS 703.0 by exempting entities from paragraph 7(b)’s requirement to provide information for 30 June 2016 (Schedule), thereby removing that single reporting obligation that would otherwise have applied."},"complexity_factors":["Very narrow scope: exempts only the requirement in paragraph 7(b) of SRS 703.0 for the single reporting date 30 June 2016 (Schedule).","Delegated decision-making: made under paragraph 16(1B)(b) of the Financial Sector (Collection of Data) Act by an APRA delegate (instrument header and signature).","Dependency on definitions outside the instrument: 'financial sector entity' is defined by section 5 of the Act (Interpretation).","Interconnection with reporting standard documents: the exemption targets a provision inside SRS 703.0, which incorporates reporting forms and instruction guides (Note), so practical effect depends on those materials.","Temporal and administrative effects: commencement is immediate upon registration, so the change applies retroactively only to the specified reporting date (instrument commencement clause).","Low policy complexity but measurable data-impact: mechanically simple to apply, but removes a specific datapoint from APRA’s dataset, which may affect data continuity and analysis."],"plain_english_summary":"This instrument, signed by an APRA delegate, exempts financial sector entities subject to Reporting Standard SRS 703.0 from the obligation in paragraph 7(b) of SRS 703.0 to provide the data for 30 June 2016. It commences on registration. It affects entities defined under the Financial Sector (Collection of Data) Act by temporarily removing a single reporting requirement for that reporting date, reducing compliance burden for affected entities while removing that discrete data point from APRA’s collected dataset."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-exemption-no-2-of-2016","history":"/api/acts/financial-sector-collection-of-data-exemption-no-2-of-2016/history","analysis":"/api/acts/financial-sector-collection-of-data-exemption-no-2-of-2016/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-exemption-no-2-of-2016/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-exemption-no-2-of-2016/important-cases","documents":"/api/acts/financial-sector-collection-of-data-exemption-no-2-of-2016/documents"}}