{"id":"F2008L02168","name":"Financial Sector (Collection of Data) Regulations 2008","slug":"financial-sector-collection-of-data-regulations-2008","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"124 of 2008","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":74416,"registerId":"commonwealth-F2008L02168-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Name of Regulations","content":"#### 1 Name of Regulations\n\n  These Regulations are the Financial Sector (Collection of Data) Regulations 2008.","sortOrder":0},{"sectionNumber":"3","sectionType":"section","heading":"Definition","content":"#### 3 Definition\n\n  In these Regulations:\n\n> Act means the Financial Sector (Collection of Data) Act 2001.","sortOrder":1},{"sectionNumber":"4","sectionType":"section","heading":"Discretionary mutual funds","content":"#### 4 Discretionary mutual funds\n\n  (1) For paragraph 5(5)(b) of the Act, a fund meeting the following criteria is declared to be a discretionary mutual fund:\n    (a) 2 or more persons have contributed to the fund;\n    (b) payments have been or may be made out of the fund in respect of liabilities, losses, damages or expenses of the contributors;\n    (c) the fund is governed by rules under which any such payments for the benefit of the contributors are subject to a discretion of a person or body other than the contributors.\n  (2) For paragraph 5(5)(b) of the Act, a fund meeting the following criteria is declared to be a discretionary mutual fund:\n    (a) only 1 person contributes or has contributed to the fund;\n    (b) payments have been or may be made out of the fund in respect of liabilities, losses, damages or expenses of the contributor or another person (the covered person);\n    (c) the fund is governed by rules under which any such payments for the benefit of the contributor or the covered person are subject to a discretion of a person or body other than the contributor or the covered person.","sortOrder":2},{"sectionNumber":"5","sectionType":"section","heading":"Financial sector agencies","content":"#### 5 Financial sector agencies\n\n  For paragraph (c) of the definition of financial sector agency in section 31 of the Act, the following agencies are prescribed:\n    (a) the Australian Bureau of Statistics;\n    (aa) the Department administered by the Minister administering the Agricultural and Veterinary Chemicals Act 1994;\n    (b) the Department administered by the Minister administering the Private Health Insurance Act 2007.","sortOrder":3}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1695},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The regulations remain strictly within their original scope of operationally defining 'discretionary mutual funds' and prescribing specific financial sector agencies under the enabling powers of the parent Act, without expansion into unrelated policy areas."},"complexity_factors":["Only 1 defined term in the interpretation section ('Act')","Simple tripartite criteria for discretionary mutual funds (3 straightforward conditions per sub-section)","No nested exceptions, cross-references to other statutes, or conditional clauses beyond the parent Act","Prescribed agency list contains exactly 3 entries","Total legislative text under 400 words"],"plain_english_summary":"These regulations implement data-collection rules under the Financial Sector (Collection of Data) Act 2001 by defining “discretionary mutual funds” — including multi-contributor pooled schemes and single‑contributor (captive) arrangements where payouts depend on a decision‑maker — so those insurance‑style entities fall within the Act’s scope.\n\nThey also add the ABS, the Department of Agriculture (chemicals regulation) and the Department of Health (private health insurance) as authorised recipients of collected financial data, widening access for regulatory and policy use."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-regulations-2008","history":"/api/acts/financial-sector-collection-of-data-regulations-2008/history","analysis":"/api/acts/financial-sector-collection-of-data-regulations-2008/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-regulations-2008/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-regulations-2008/important-cases","documents":"/api/acts/financial-sector-collection-of-data-regulations-2008/documents"}}