{"id":"F2007L04916","name":"Financial Sector (Collection of Data) (reporting standard) determination No. 33 of 2007 - Reporting standard DRS 100.0 - Insurance and Sundry Information","slug":"financial-sector-collection-of-data-reporting-standard-determination-no-33-of-2007-reporting-standar","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":71738,"registerId":"commonwealth-F2007L04916-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Reporting Standard DRS 100.0","sectionType":"part","heading":"Reporting Standard DRS 100.0","content":"## ![](image.001.png)\n\n## Reporting Standard DRS 100.0\n\n## Insurance and Sundry Information\n\n### Objective of this reporting standard\n\nThis reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001. It requires all DMF entities to provide to APRA, on an annual basis, the Form DRF 100.0 Insurance and Sundry Information.\n\nThis reporting standard outlines the overall requirements for the provision of this information to APRA. It should be read in conjunction with the form and the associated instructions (which are attached and form part of this reporting standard).\n\n# Purpose\n\n1.  Information collected in Form DRF 100.0 Insurance and Sundry Information (Form DRF 100.0) is used by APRA for the purpose of monitoring bodies in the finance sector.\n\n# Application and commencement\n\n2. This reporting standard applies to all DMF entities from 1 January 2008.\n\n# Information required\n\n3. A DMF entity must provide APRA with the information required by Form DRF 100.0, in respect of:\n\n(a) the DMF; and\n\n(b) in those cases where a DMF comprises a number of individual subfunds and each subfund has a distinct bank account and financial statement, each subfund\n\nfor each reporting period.\n\n# Forms and method of submission\n\n4. The information required by this reporting standard must be given to APRA either:\n\n(a) in electronic form using the ‘Direct to APRA’ application, applying one of the electronic submission mechanisms under that application; or\n\n(b) by manually completing Form DRF 100.0 on paper and mailing the completed form to APRA’s head office at Level 26, 400 George Street, Sydney, New South Wales.\n\n5. Where the information is submitted by means of an agent to whom the DMF entity has outsourced the function of providing the information on the DMF entity’s behalf, the agent may only provide the information in accordance with paragraph 4(b) if the agent has contacted APRA and advised that the agent cannot submit the information in electronic form under paragraph 4(a).\n\nNote: the ‘Direct to APRA’ software and relevant forms is obtained from APRA.\n\nReporting periods and due dates\n\n6. A DMF entity must provide the information required by this reporting standard in respect of each year of income of the DMF.\n\n7. APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular DMF entity to require it to provide the information:\n\n(a) more frequently (if, having regard to the particular circumstances of the DMF entity, APRA considers it necessary or desirable to obtain information more frequently); or\n\n(b) less frequently (if, having regard to the particular circumstances of the DMF entity, APRA considers it unnecessary to require the DMF entity to provide the information as frequently as provided by paragraph 6).\n\n8. The information must be provided to APRA:\n\n(a) if the end of the year of income of the DMF falls between 1 January 2008 and 30 June 2008, inclusive – by no later than 30 October 2008; or\n\n(b) if the end of the year of income of the DMF falls after 30 June 2008 –within 4 months after the end of that year of income of the reporting period to which it relates.\n\n9. APRA may grant an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.\n\n# Quality control\n\n10. The information provided under this reporting standard must be the product of processes and controls developed by the DMF entity for the internal review and authorisation of that information. It is the responsibility of the DMF entity to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.\n\n# Authorisation\n\n11. If the officer of a DMF entity provides the information required by this reporting standard under paragraph 4, then:\n\n(a) if the officer uses the ‘Direct to APRA’ application under paragraph 4(a), an officer must digitally sign, authorise and encrypt the information (for which purpose APRA’s certificate authority will issue digital certificates, for use with the ‘Direct to APRA’ application, to officers who have authority from the DMF entity to transmit data to APRA); and\n\n(b) if the DMF entity provides the information on paper under paragraph 4(b), the completed form must be signed by an officer of the DMF entity who is authorised by the DMF entity to complete and lodge the form.\n\n12. If the DMF entity provides the information required by this reporting standard through an agent under paragraph 5, then:\n\n(a) the agent will not be required to sign or authorise the information; but\n\n(b) the DMF entity must:\n\n(i) obtain from the agent a paper copy of the completed form as provided to APRA (whether it was submitted electronically or in paper form); and\n\n(ii) cause the paper copy to be signed by an officer of the DMF entity authorised by the DMF entity to sign the paper copy; and\n\n(iii) lodge the signed paper copy with APRA by mailing the completed form to APRA’s head office at Level 26, 400 George Street, Sydney, New South Wales, by the relevant due date.\n\n13. If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed form by either:\n\n(a) the Principal Executive Officer of the DMF entity; or\n\n(b) the Chief Financial Officer of the DMF entity (whatever his or her official title may be); or\n\n(c) the trustee.\n\n# Minor alterations to form and instructions\n\n14. APRA may make minor variations to:\n\n> (a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or\n\n> (b) the instructions to a form, to clarify their application to the form\n\n> without changing any substantive requirement in the form or instructions.\n\n15. If APRA makes such a variation it must notify in writing each DMF entity that is required to report under this reporting standard.\n\n# Interpretation\n\n16. In this reporting standard:\n\nAPRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998;\n\nDMF has the meaning given by section 5 of the Financial Sector (Collection of Data) Act 2001;\n\ndue date means the relevant due date under paragraph 8 or, if applicable, paragraph 9;\n\nDMF entity is a person or body that controls a DMF, and may include any of the following:\n\n(a) a [body corporate](s1276.html#body_corporate);\n\n(b) a partnership;\n\n(c) an unincorporated [body](s9.html#body);\n\n(d) an individual;\n\n(e) for a trust that has only one trustee – the trustee;\n\n(f) for a trust that has more than one trustee – the trustees together;\n\nofficer in relation to a [DMF](s9.html#corporation) entity means, where relevant:\n\n(a) a [director](s9.html#director) or secretary of the [entity](s9.html#corporation); or\n\n(b) a [person](s9.html#person):\n\n(i) who makes, or participates in making, [decisions](s1317a.html#decision) that affect the whole, or a [substantial part](s9.html#substantial_part), of the business of the [entity](s9.html#corporation); or\n\n(ii) who has the capacity to affect significantly the entity’s financial standing;\n\nreporting period means a reporting period mentioned in paragraph 6 or, if applicable, paragraph 7;\n\nyear of income means the financial year of the DMF.","sortOrder":0},{"sectionNumber":"Insurance and Sundry Information","sectionType":"part","heading":"Insurance and Sundry Information","content":"## Insurance and Sundry Information\n\n### Objective of this reporting standard\n\nThis reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001. It requires all DMF entities to provide to APRA, on an annual basis, the Form DRF 100.0 Insurance and Sundry Information.\n\nThis reporting standard outlines the overall requirements for the provision of this information to APRA. It should be read in conjunction with the form and the associated instructions (which are attached and form part of this reporting standard).\n\n# Purpose\n\n1.  Information collected in Form DRF 100.0 Insurance and Sundry Information (Form DRF 100.0) is used by APRA for the purpose of monitoring bodies in the finance sector.\n\n# Application and commencement\n\n2. This reporting standard applies to all DMF entities from 1 January 2008.\n\n# Information required\n\n3. A DMF entity must provide APRA with the information required by Form DRF 100.0, in respect of:\n\n(a) the DMF; and\n\n(b) in those cases where a DMF comprises a number of individual subfunds and each subfund has a distinct bank account and financial statement, each subfund\n\nfor each reporting period.\n\n# Forms and method of submission\n\n4. The information required by this reporting standard must be given to APRA either:\n\n(a) in electronic form using the ‘Direct to APRA’ application, applying one of the electronic submission mechanisms under that application; or\n\n(b) by manually completing Form DRF 100.0 on paper and mailing the completed form to APRA’s head office at Level 26, 400 George Street, Sydney, New South Wales.\n\n5. Where the information is submitted by means of an agent to whom the DMF entity has outsourced the function of providing the information on the DMF entity’s behalf, the agent may only provide the information in accordance with paragraph 4(b) if the agent has contacted APRA and advised that the agent cannot submit the information in electronic form under paragraph 4(a).\n\nNote: the ‘Direct to APRA’ software and relevant forms is obtained from APRA.\n\nReporting periods and due dates\n\n6. A DMF entity must provide the information required by this reporting standard in respect of each year of income of the DMF.\n\n7. APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular DMF entity to require it to provide the information:\n\n(a) more frequently (if, having regard to the particular circumstances of the DMF entity, APRA considers it necessary or desirable to obtain information more frequently); or\n\n(b) less frequently (if, having regard to the particular circumstances of the DMF entity, APRA considers it unnecessary to require the DMF entity to provide the information as frequently as provided by paragraph 6).\n\n8. The information must be provided to APRA:\n\n(a) if the end of the year of income of the DMF falls between 1 January 2008 and 30 June 2008, inclusive – by no later than 30 October 2008; or\n\n(b) if the end of the year of income of the DMF falls after 30 June 2008 –within 4 months after the end of that year of income of the reporting period to which it relates.\n\n9. APRA may grant an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.\n\n# Quality control\n\n10. The information provided under this reporting standard must be the product of processes and controls developed by the DMF entity for the internal review and authorisation of that information. It is the responsibility of the DMF entity to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.\n\n# Authorisation\n\n11. If the officer of a DMF entity provides the information required by this reporting standard under paragraph 4, then:\n\n(a) if the officer uses the ‘Direct to APRA’ application under paragraph 4(a), an officer must digitally sign, authorise and encrypt the information (for which purpose APRA’s certificate authority will issue digital certificates, for use with the ‘Direct to APRA’ application, to officers who have authority from the DMF entity to transmit data to APRA); and\n\n(b) if the DMF entity provides the information on paper under paragraph 4(b), the completed form must be signed by an officer of the DMF entity who is authorised by the DMF entity to complete and lodge the form.\n\n12. If the DMF entity provides the information required by this reporting standard through an agent under paragraph 5, then:\n\n(a) the agent will not be required to sign or authorise the information; but\n\n(b) the DMF entity must:\n\n(i) obtain from the agent a paper copy of the completed form as provided to APRA (whether it was submitted electronically or in paper form); and\n\n(ii) cause the paper copy to be signed by an officer of the DMF entity authorised by the DMF entity to sign the paper copy; and\n\n(iii) lodge the signed paper copy with APRA by mailing the completed form to APRA’s head office at Level 26, 400 George Street, Sydney, New South Wales, by the relevant due date.\n\n13. If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed form by either:\n\n(a) the Principal Executive Officer of the DMF entity; or\n\n(b) the Chief Financial Officer of the DMF entity (whatever his or her official title may be); or\n\n(c) the trustee.\n\n# Minor alterations to form and instructions\n\n14. APRA may make minor variations to:\n\n> (a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or\n\n> (b) the instructions to a form, to clarify their application to the form\n\n> without changing any substantive requirement in the form or instructions.\n\n15. If APRA makes such a variation it must notify in writing each DMF entity that is required to report under this reporting standard.\n\n# Interpretation\n\n16. In this reporting standard:\n\nAPRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998;\n\nDMF has the meaning given by section 5 of the Financial Sector (Collection of Data) Act 2001;\n\ndue date means the relevant due date under paragraph 8 or, if applicable, paragraph 9;\n\nDMF entity is a person or body that controls a DMF, and may include any of the following:\n\n(a) a [body corporate](s1276.html#body_corporate);\n\n(b) a partnership;\n\n(c) an unincorporated [body](s9.html#body);\n\n(d) an individual;\n\n(e) for a trust that has only one trustee – the trustee;\n\n(f) for a trust that has more than one trustee – the trustees together;\n\nofficer in relation to a [DMF](s9.html#corporation) entity means, where relevant:\n\n(a) a [director](s9.html#director) or secretary of the [entity](s9.html#corporation); or\n\n(b) a [person](s9.html#person):\n\n(i) who makes, or participates in making, [decisions](s1317a.html#decision) that affect the whole, or a [substantial part](s9.html#substantial_part), of the business of the [entity](s9.html#corporation); or\n\n(ii) who has the capacity to affect significantly the entity’s financial standing;\n\nreporting period means a reporting period mentioned in paragraph 6 or, if applicable, paragraph 7;\n\nyear of income means the financial year of the DMF.","sortOrder":1},{"sectionNumber":"Objective of this reporting standard","sectionType":"division","heading":"Objective of this reporting standard","content":"### Objective of this reporting standard\n\nThis reporting standard is made under section 13 of the Financial Sector (Collection of Data) Act 2001. It requires all DMF entities to provide to APRA, on an annual basis, the Form DRF 100.0 Insurance and Sundry Information.\n\nThis reporting standard outlines the overall requirements for the provision of this information to APRA. It should be read in conjunction with the form and the associated instructions (which are attached and form part of this reporting standard).","sortOrder":2},{"sectionNumber":"Purpose","sectionType":"part","heading":"Purpose","content":"# Purpose\n\n1.  Information collected in Form DRF 100.0 Insurance and Sundry Information (Form DRF 100.0) is used by APRA for the purpose of monitoring bodies in the finance sector.","sortOrder":3},{"sectionNumber":"Application and commencement","sectionType":"part","heading":"Application and commencement","content":"# Application and commencement\n\n2. This reporting standard applies to all DMF entities from 1 January 2008.","sortOrder":4},{"sectionNumber":"Information required","sectionType":"part","heading":"Information required","content":"# Information required\n\n3. A DMF entity must provide APRA with the information required by Form DRF 100.0, in respect of:\n\n(a) the DMF; and\n\n(b) in those cases where a DMF comprises a number of individual subfunds and each subfund has a distinct bank account and financial statement, each subfund\n\nfor each reporting period.","sortOrder":5},{"sectionNumber":"Forms and method of submission","sectionType":"part","heading":"Forms and method of submission","content":"# Forms and method of submission\n\n4. The information required by this reporting standard must be given to APRA either:\n\n(a) in electronic form using the ‘Direct to APRA’ application, applying one of the electronic submission mechanisms under that application; or\n\n(b) by manually completing Form DRF 100.0 on paper and mailing the completed form to APRA’s head office at Level 26, 400 George Street, Sydney, New South Wales.\n\n5. Where the information is submitted by means of an agent to whom the DMF entity has outsourced the function of providing the information on the DMF entity’s behalf, the agent may only provide the information in accordance with paragraph 4(b) if the agent has contacted APRA and advised that the agent cannot submit the information in electronic form under paragraph 4(a).\n\nNote: the ‘Direct to APRA’ software and relevant forms is obtained from APRA.\n\nReporting periods and due dates\n\n6. A DMF entity must provide the information required by this reporting standard in respect of each year of income of the DMF.\n\n7. APRA may, by notice in writing, change the reporting periods, or specified reporting periods, for a particular DMF entity to require it to provide the information:\n\n(a) more frequently (if, having regard to the particular circumstances of the DMF entity, APRA considers it necessary or desirable to obtain information more frequently); or\n\n(b) less frequently (if, having regard to the particular circumstances of the DMF entity, APRA considers it unnecessary to require the DMF entity to provide the information as frequently as provided by paragraph 6).\n\n8. The information must be provided to APRA:\n\n(a) if the end of the year of income of the DMF falls between 1 January 2008 and 30 June 2008, inclusive – by no later than 30 October 2008; or\n\n(b) if the end of the year of income of the DMF falls after 30 June 2008 –within 4 months after the end of that year of income of the reporting period to which it relates.\n\n9. APRA may grant an extension of a due date in writing, in which case the new due date for the provision of the information will be the date on the notice of extension.","sortOrder":6},{"sectionNumber":"Quality control","sectionType":"part","heading":"Quality control","content":"# Quality control\n\n10. The information provided under this reporting standard must be the product of processes and controls developed by the DMF entity for the internal review and authorisation of that information. It is the responsibility of the DMF entity to ensure that an appropriate set of policies and procedures for the authorisation of data submitted to APRA is in place.","sortOrder":7},{"sectionNumber":"Authorisation","sectionType":"part","heading":"Authorisation","content":"# Authorisation\n\n11. If the officer of a DMF entity provides the information required by this reporting standard under paragraph 4, then:\n\n(a) if the officer uses the ‘Direct to APRA’ application under paragraph 4(a), an officer must digitally sign, authorise and encrypt the information (for which purpose APRA’s certificate authority will issue digital certificates, for use with the ‘Direct to APRA’ application, to officers who have authority from the DMF entity to transmit data to APRA); and\n\n(b) if the DMF entity provides the information on paper under paragraph 4(b), the completed form must be signed by an officer of the DMF entity who is authorised by the DMF entity to complete and lodge the form.\n\n12. If the DMF entity provides the information required by this reporting standard through an agent under paragraph 5, then:\n\n(a) the agent will not be required to sign or authorise the information; but\n\n(b) the DMF entity must:\n\n(i) obtain from the agent a paper copy of the completed form as provided to APRA (whether it was submitted electronically or in paper form); and\n\n(ii) cause the paper copy to be signed by an officer of the DMF entity authorised by the DMF entity to sign the paper copy; and\n\n(iii) lodge the signed paper copy with APRA by mailing the completed form to APRA’s head office at Level 26, 400 George Street, Sydney, New South Wales, by the relevant due date.\n\n13. If information under this reporting standard is provided in paper form, it must be signed on the front page of the relevant completed form by either:\n\n(a) the Principal Executive Officer of the DMF entity; or\n\n(b) the Chief Financial Officer of the DMF entity (whatever his or her official title may be); or\n\n(c) the trustee.","sortOrder":8},{"sectionNumber":"Minor alterations to form and instructio","sectionType":"part","heading":"Minor alterations to form and instructions","content":"# Minor alterations to form and instructions\n\n14. APRA may make minor variations to:\n\n> (a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or\n\n> (b) the instructions to a form, to clarify their application to the form\n\n> without changing any substantive requirement in the form or instructions.\n\n15. If APRA makes such a variation it must notify in writing each DMF entity that is required to report under this reporting standard.","sortOrder":9},{"sectionNumber":"Interpretation","sectionType":"part","heading":"Interpretation","content":"# Interpretation\n\n16. In this reporting standard:\n\nAPRA means the Australian Prudential Regulation Authority established under the Australian Prudential Regulation Authority Act 1998;\n\nDMF has the meaning given by section 5 of the Financial Sector (Collection of Data) Act 2001;\n\ndue date means the relevant due date under paragraph 8 or, if applicable, paragraph 9;\n\nDMF entity is a person or body that controls a DMF, and may include any of the following:\n\n(a) a [body corporate](s1276.html#body_corporate);\n\n(b) a partnership;\n\n(c) an unincorporated [body](s9.html#body);\n\n(d) an individual;\n\n(e) for a trust that has only one trustee – the trustee;\n\n(f) for a trust that has more than one trustee – the trustees together;\n\nofficer in relation to a [DMF](s9.html#corporation) entity means, where relevant:\n\n(a) a [director](s9.html#director) or secretary of the [entity](s9.html#corporation); or\n\n(b) a [person](s9.html#person):\n\n(i) who makes, or participates in making, [decisions](s1317a.html#decision) that affect the whole, or a [substantial part](s9.html#substantial_part), of the business of the [entity](s9.html#corporation); or\n\n(ii) who has the capacity to affect significantly the entity’s financial standing;\n\nreporting period means a reporting period mentioned in paragraph 6 or, if applicable, paragraph 7;\n\nyear of income means the financial year of the DMF.","sortOrder":10},{"sectionNumber":"Reporting Form DRF 100.0","sectionType":"part","heading":"Reporting Form DRF 100.0","content":"# Reporting Form DRF 100.0\n\n# Insurance and Sundry Information\n\n# Instruction Guide\n\nIntroduction\n\nThis form requires Discretionary Mutual Funds (DMFs) to report information about Static Information relating to: Insurance and Other Information which relates only to discretionary business. DMFs will need to advise APRA, within two months, if there are changes to any of the information on this form.\n\nLevel of reporting\n\nFor the purposes of the instructions below the term DMF includes reporting at the legal entity or trust or subfund level. The same level of reporting must be used throughout this form.\n\nDMFs will generally need to submit data at the legal entity or trust level. Some DMFs, however, operate with multiple subfunds and in those cases where the DMF has separate sub fund bank accounts and sub fund financial statements, this reporting form will need to be submitted for each sub fund. For example, if an entity has 2 subfunds: subfund A and subfund B. Subfund A and also subfund B will need to complete this reporting form.\n\nReporting obligations\n\nThe DMF is required to report information relating to a financial year in the forms. Financial years ending on or between 1 January 2008 and 30 June 2008 must lodge this form at the latest by 30 October 2008. For financial years ending after 30 June 2008 DMFs must lodge their reporting forms at the latest 4 months after the DMF financial year end.\n\nAudit requirements\n\nThe reporting form does not need to be audited. However the data should be based on the DMF’s financial statements and must be subject to the same processes and controls that cover the review and authorisation of the accounting data. It is the responsibility of the board or trustee or senior management of the DMF to ensure that the information lodged with APRA is accurate and complete.\n\nMethod of submission\n\nForms will be submitted electronically to APRA using ‘Direct to APRA’ (D2A) software unless alternative arrangements are made with APRA.\n\nDefinitions\n\nBeneficiary = The party that will become eligible to receive a payment once a claim is approved.\n\nMember = The party that pays the contribution to the DMF.\n\nDefinitions for data reporting items required by this form have been provided where possible in the instructions under the section headed ‘Specific Instructions’.\n\nBasis of preparation\n\nAccounting basis of preparation\n\nImportant: Report all items using the same recognition and measurement basis that is used in your financial statements. The instructions below are specific to entities that are reporting and complying with all applicable Australian Accounting Standards. In those cases where an entity does not comply with a AASB standard specifically identified below, report on the accounting basis used in your financial statements.\n\nUnit of measurement\n\nThis form is to be presented in Australian dollars (AUD), rounded to thousands of dollars, with no decimal places. Amounts denominated in a currency other than Australian currency are to be converted to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates (AASB 121).\n\nSpecific instructions\n\n1.  Insurance taken by the DMF\n\n1.1. How do you establish Maximum Event Retention (MER)?\n\nEnter only the corresponding letter for the method used, i.e. Proprietary Risk Modelling software (A), Actuarial consultation (B), Other consulting services (C) or Other (D).\n\n1.2. For 'Other' and 'Other consulting services', provide brief details:\n\nPlease explain using the free text box.\n\n1.3. If you use probability modelling, what is the basis of determining the Maximum Event Retention (MER)? If you do not use probability modelling select 'Another basis'.\n\nSelect the nearest return period chosen to determine level of insurance coverage purchased and resulting MER. If you do not use probability modelling, select ‘No basis’ or ‘Another basis’. Enter only the corresponding letter for the method used, i.e. More than 1 in 250 (A), 1 in 250 (B), 1 in 200 (C), 1 in 150 (D), 1 in 100 (E), 1 in 80 (F), 1 in 60 (G), 1 in 40 (H), 1 in 20 (I), 1 in 1 (J), No basis (K), Another basis (L).\n\n1.4. If you use the 'percentage of capital' approach, what is the percentage of capital applied to determine the Maximum Event Retention (MER)? If you do not use this approach, input 0.\n\nInput the percentage rounded to the nearest whole number percentage.\n\n1.5. If you do not use ‘probability modelling’ or ‘percentage of capital’ approach please explain what basis you use.\n\nPlease explain using the free text box.\n\n1.6. List the types of cover (classes/risks/maximum sum insured) offered to members which fall within the protection wording and are not insured?\n\nThis question requests information on the classes/risk of businesses which are offered to members but absolutely no insurance is purchased by the DMF.\n\n1.7. List of insurers, credit ratings and rating agencies in order of premium paid? Highest to lowest amount. Also include the recoverable amount by the claim year.\n\nInsurer – Type the name of the insurer in the free text field.\n\nCredit rating – Select the appropriate credit rating in the drop down box.\n\nRating agency - Select the appropriate rating agency in the drop down box.\n\nUse the same rating agency for determining counterparty grades. This general rule where there are good reasons for doing so, such as under the following circumstances:\n\n-   Where the rating agencies usually monitored do not issue a solicited credit rating for a particular debt obligation and only one other rating agency issues a solicited credit rating for that debt obligation, that solicited credit rating may be used.\n-   Where the rating agencies usually monitored do not issue a solicited credit rating for a particular debt obligation, the credit ratings issued by all other rating agencies listed must be reviewed and the rule below must be used to determine which rating agency will be used to determine the counterparty grade.\n-   The rule below may also be applied where multiple rating agencies provide different solicited credit ratings for a particular debt obligation.\n\nRule: Where a counterparty or debt obligation has solicited credit ratings from multiple rating agencies, the following guideline will be followed in determining the rating to be used; if there is more than one rating the lowest credit rating should be used.\n\nAlso include the recoverable amount by: Current year claims, Previous year claims and Earlier years claims.\n\n1.8. Are insurance brokers used to place insurance?\n\nSelect Yes/No.\n\n1.9. If ‘Yes’ list the names of the insurance brokerage firms which place your insurance. In order of premium paid highest to lowest.\n\nType the names of the insurance brokerage firms in order of highest to lowest premium paid.\n\n1.10. Are all insurances automatically reinstated after loss for all policies?\n\nIf a claim is made on insurance does the insurance cover automatically reinstate? Select Yes/No.\n\n1.11. If ‘No’ detail the types of insurances (classes/risks/sums insured) which are not automatically reinstated.\n\nList the types of cover which are not automatically reinstated.\n\n1.12. What is the maximum cost to reinstate insurance cover after the first MER event for all policies?\n\nInput the maximum cost of the first reinstatement after the MER event. If nil input zero.\n\n1.13. What is the maximum cost of any subsequent per event reinstatement after the MER event for all policies?\n\nInput the maximum cost of any subsequent per event reinstatement after the MER event. If nil input zero.\n\n1.14. Does the insurance contract pay out the claim, irrespective of whether the claim is within the protection wording of the cover offered to the member for all policies?\n\nWhat we are trying to establish is whether your insurer pays out in all circumstances. Thus if a claim is made by the member will the insurer automatically pay the insurance element of that claim. Thus the insurer will not have regard to whether the claim falls within or outside the protection wording of the member.\n\n1.15. Do all insurances have a feature that reduces the deductible to nil when the underlying pool of funds (aggregate deductible) is exhausted?\n\nSelect Yes/No. Thus when the pool of funds/aggregate deductible becomes nil, will the insurer pay the full claim of the member net of any member excess or franchise.\n\n1.16. If ‘Yes’ above, please describe the structure of your insurance programme and where this feature applies.\n\nIf yes, type in the free text the broad structure of your programme and what insurance policy provides this feature.\n\n2. Other\n\n2.1. Can calls be made on members and is there a contractual obligation to pay?\n\nCalls are requests made by the DMF on the member for amounts over and above the contributions paid. Please select Yes/No.\n\n2.2. If ‘Yes’, what is the basis for determining the maximum call amount?\n\nSelect whether basis of calculation is a specified amount or a percentage of contribution or other.\n\nIf ‘Other’, please explain the methodology of calculating the maximum call amount.\n\nExplain the methodology in the free text field.\n\n2.3. What would be the maximum amount of a call on a member for any financial year?\n\nInput the maximum amount rounded to the nearest thousand dollars.\n\n2.4. What is your confidence level that all calls will be paid in full by members?\n\nDepending on the financial strength of the members the degree of confidence may differ. Enter only the corresponding letter for your confidence level, i.e. High (A), Medium (B) or Low (C).\n\n2.5. Please provide brief reasoning for concluding this confidence level?\n\nIn the free text field, please explain. If the members are large corporates your confidence level may be higher than if the members are persons.\n\n2.6. List the dispute resolution bodies that a member can lodge a complaint with? State if None.\n\nIn the free text field list the dispute resolution bodies the member may contact if they have a complaint.\n\n2.7. To the best of your knowledge please list the types of cover/products sold which members are not able to purchase from licensed Australian insurers?\n\nDMFs may sell products which may not be available to the members from licensed Australian insurers. Please list in the free text field which cover/products are not available.\n\n2.8. Are products sold under a Australian Financial Services License (AFSL)?\n\nSelect Yes/No.\n\n2.9. Is a Product Disclosure Statement (PDS) issued to all prospective members?\n\nSelect Yes/No.\n\n2.10. In the event of wind-up who would receive any excess monies that were not needed; after satisfying liabilities?\n\nWho receives the remaining assets after its liabilities have been satisfied in a wind\\-up situation? Enter only the corresponding letter for the recipient of the surplus funds, i.e. Charity (A), Members (B) and Other (C).\n\n2.11. If ‘Other’ in 2.10 please provide brief details.\n\nIf ‘Other’ describe in the free text field who will receive the funds.\n\n2.12. Explain who receives and what happens to profits/surpluses which arise in the normal course of business?\n\nExplain what parties receive surpluses; e.g. members; and what happens to surpluses; eg used for discounted premiums as a loyalty bonus, distributions to members, training etc.\n\n2.13. If the member discontinues cover mid term, are contributions (after allowing for administration charges) refunded to the member for the unexpired period of cover?\n\nIn the event of the member wanting to discontinue cover mid\\-term, does the member receive a pro\\-rata refund of contribution paid (after allowing for administration charges).\n\n2.14. Are annual audited financial statements lodged with ASIC?\n\nSelect Yes/No.\n\n2.15. Are annual audited financial statements distributed to all members?\n\nSelect Yes/No.","sortOrder":11},{"sectionNumber":"Instruction Guide","sectionType":"part","heading":"Instruction Guide","content":"# Instruction Guide\n\nIntroduction\n\nThis form requires Discretionary Mutual Funds (DMFs) to report information about Static Information relating to: Insurance and Other Information which relates only to discretionary business. DMFs will need to advise APRA, within two months, if there are changes to any of the information on this form.\n\nLevel of reporting\n\nFor the purposes of the instructions below the term DMF includes reporting at the legal entity or trust or subfund level. The same level of reporting must be used throughout this form.\n\nDMFs will generally need to submit data at the legal entity or trust level. Some DMFs, however, operate with multiple subfunds and in those cases where the DMF has separate sub fund bank accounts and sub fund financial statements, this reporting form will need to be submitted for each sub fund. For example, if an entity has 2 subfunds: subfund A and subfund B. Subfund A and also subfund B will need to complete this reporting form.\n\nReporting obligations\n\nThe DMF is required to report information relating to a financial year in the forms. Financial years ending on or between 1 January 2008 and 30 June 2008 must lodge this form at the latest by 30 October 2008. For financial years ending after 30 June 2008 DMFs must lodge their reporting forms at the latest 4 months after the DMF financial year end.\n\nAudit requirements\n\nThe reporting form does not need to be audited. However the data should be based on the DMF’s financial statements and must be subject to the same processes and controls that cover the review and authorisation of the accounting data. It is the responsibility of the board or trustee or senior management of the DMF to ensure that the information lodged with APRA is accurate and complete.\n\nMethod of submission\n\nForms will be submitted electronically to APRA using ‘Direct to APRA’ (D2A) software unless alternative arrangements are made with APRA.\n\nDefinitions\n\nBeneficiary = The party that will become eligible to receive a payment once a claim is approved.\n\nMember = The party that pays the contribution to the DMF.\n\nDefinitions for data reporting items required by this form have been provided where possible in the instructions under the section headed ‘Specific Instructions’.\n\nBasis of preparation\n\nAccounting basis of preparation\n\nImportant: Report all items using the same recognition and measurement basis that is used in your financial statements. The instructions below are specific to entities that are reporting and complying with all applicable Australian Accounting Standards. In those cases where an entity does not comply with a AASB standard specifically identified below, report on the accounting basis used in your financial statements.\n\nUnit of measurement\n\nThis form is to be presented in Australian dollars (AUD), rounded to thousands of dollars, with no decimal places. Amounts denominated in a currency other than Australian currency are to be converted to AUD in accordance with AASB 121 The Effects of Changes in Foreign Exchange Rates (AASB 121).\n\nSpecific instructions\n\n1.  Insurance taken by the DMF\n\n1.1. How do you establish Maximum Event Retention (MER)?\n\nEnter only the corresponding letter for the method used, i.e. Proprietary Risk Modelling software (A), Actuarial consultation (B), Other consulting services (C) or Other (D).\n\n1.2. For 'Other' and 'Other consulting services', provide brief details:\n\nPlease explain using the free text box.\n\n1.3. If you use probability modelling, what is the basis of determining the Maximum Event Retention (MER)? If you do not use probability modelling select 'Another basis'.\n\nSelect the nearest return period chosen to determine level of insurance coverage purchased and resulting MER. If you do not use probability modelling, select ‘No basis’ or ‘Another basis’. Enter only the corresponding letter for the method used, i.e. More than 1 in 250 (A), 1 in 250 (B), 1 in 200 (C), 1 in 150 (D), 1 in 100 (E), 1 in 80 (F), 1 in 60 (G), 1 in 40 (H), 1 in 20 (I), 1 in 1 (J), No basis (K), Another basis (L).\n\n1.4. If you use the 'percentage of capital' approach, what is the percentage of capital applied to determine the Maximum Event Retention (MER)? If you do not use this approach, input 0.\n\nInput the percentage rounded to the nearest whole number percentage.\n\n1.5. If you do not use ‘probability modelling’ or ‘percentage of capital’ approach please explain what basis you use.\n\nPlease explain using the free text box.\n\n1.6. List the types of cover (classes/risks/maximum sum insured) offered to members which fall within the protection wording and are not insured?\n\nThis question requests information on the classes/risk of businesses which are offered to members but absolutely no insurance is purchased by the DMF.\n\n1.7. List of insurers, credit ratings and rating agencies in order of premium paid? Highest to lowest amount. Also include the recoverable amount by the claim year.\n\nInsurer – Type the name of the insurer in the free text field.\n\nCredit rating – Select the appropriate credit rating in the drop down box.\n\nRating agency - Select the appropriate rating agency in the drop down box.\n\nUse the same rating agency for determining counterparty grades. This general rule where there are good reasons for doing so, such as under the following circumstances:\n\n-   Where the rating agencies usually monitored do not issue a solicited credit rating for a particular debt obligation and only one other rating agency issues a solicited credit rating for that debt obligation, that solicited credit rating may be used.\n-   Where the rating agencies usually monitored do not issue a solicited credit rating for a particular debt obligation, the credit ratings issued by all other rating agencies listed must be reviewed and the rule below must be used to determine which rating agency will be used to determine the counterparty grade.\n-   The rule below may also be applied where multiple rating agencies provide different solicited credit ratings for a particular debt obligation.\n\nRule: Where a counterparty or debt obligation has solicited credit ratings from multiple rating agencies, the following guideline will be followed in determining the rating to be used; if there is more than one rating the lowest credit rating should be used.\n\nAlso include the recoverable amount by: Current year claims, Previous year claims and Earlier years claims.\n\n1.8. Are insurance brokers used to place insurance?\n\nSelect Yes/No.\n\n1.9. If ‘Yes’ list the names of the insurance brokerage firms which place your insurance. In order of premium paid highest to lowest.\n\nType the names of the insurance brokerage firms in order of highest to lowest premium paid.\n\n1.10. Are all insurances automatically reinstated after loss for all policies?\n\nIf a claim is made on insurance does the insurance cover automatically reinstate? Select Yes/No.\n\n1.11. If ‘No’ detail the types of insurances (classes/risks/sums insured) which are not automatically reinstated.\n\nList the types of cover which are not automatically reinstated.\n\n1.12. What is the maximum cost to reinstate insurance cover after the first MER event for all policies?\n\nInput the maximum cost of the first reinstatement after the MER event. If nil input zero.\n\n1.13. What is the maximum cost of any subsequent per event reinstatement after the MER event for all policies?\n\nInput the maximum cost of any subsequent per event reinstatement after the MER event. If nil input zero.\n\n1.14. Does the insurance contract pay out the claim, irrespective of whether the claim is within the protection wording of the cover offered to the member for all policies?\n\nWhat we are trying to establish is whether your insurer pays out in all circumstances. Thus if a claim is made by the member will the insurer automatically pay the insurance element of that claim. Thus the insurer will not have regard to whether the claim falls within or outside the protection wording of the member.\n\n1.15. Do all insurances have a feature that reduces the deductible to nil when the underlying pool of funds (aggregate deductible) is exhausted?\n\nSelect Yes/No. Thus when the pool of funds/aggregate deductible becomes nil, will the insurer pay the full claim of the member net of any member excess or franchise.\n\n1.16. If ‘Yes’ above, please describe the structure of your insurance programme and where this feature applies.\n\nIf yes, type in the free text the broad structure of your programme and what insurance policy provides this feature.\n\n2. Other\n\n2.1. Can calls be made on members and is there a contractual obligation to pay?\n\nCalls are requests made by the DMF on the member for amounts over and above the contributions paid. Please select Yes/No.\n\n2.2. If ‘Yes’, what is the basis for determining the maximum call amount?\n\nSelect whether basis of calculation is a specified amount or a percentage of contribution or other.\n\nIf ‘Other’, please explain the methodology of calculating the maximum call amount.\n\nExplain the methodology in the free text field.\n\n2.3. What would be the maximum amount of a call on a member for any financial year?\n\nInput the maximum amount rounded to the nearest thousand dollars.\n\n2.4. What is your confidence level that all calls will be paid in full by members?\n\nDepending on the financial strength of the members the degree of confidence may differ. Enter only the corresponding letter for your confidence level, i.e. High (A), Medium (B) or Low (C).\n\n2.5. Please provide brief reasoning for concluding this confidence level?\n\nIn the free text field, please explain. If the members are large corporates your confidence level may be higher than if the members are persons.\n\n2.6. List the dispute resolution bodies that a member can lodge a complaint with? State if None.\n\nIn the free text field list the dispute resolution bodies the member may contact if they have a complaint.\n\n2.7. To the best of your knowledge please list the types of cover/products sold which members are not able to purchase from licensed Australian insurers?\n\nDMFs may sell products which may not be available to the members from licensed Australian insurers. Please list in the free text field which cover/products are not available.\n\n2.8. Are products sold under a Australian Financial Services License (AFSL)?\n\nSelect Yes/No.\n\n2.9. Is a Product Disclosure Statement (PDS) issued to all prospective members?\n\nSelect Yes/No.\n\n2.10. In the event of wind-up who would receive any excess monies that were not needed; after satisfying liabilities?\n\nWho receives the remaining assets after its liabilities have been satisfied in a wind\\-up situation? Enter only the corresponding letter for the recipient of the surplus funds, i.e. Charity (A), Members (B) and Other (C).\n\n2.11. If ‘Other’ in 2.10 please provide brief details.\n\nIf ‘Other’ describe in the free text field who will receive the funds.\n\n2.12. Explain who receives and what happens to profits/surpluses which arise in the normal course of business?\n\nExplain what parties receive surpluses; e.g. members; and what happens to surpluses; eg used for discounted premiums as a loyalty bonus, distributions to members, training etc.\n\n2.13. If the member discontinues cover mid term, are contributions (after allowing for administration charges) refunded to the member for the unexpired period of cover?\n\nIn the event of the member wanting to discontinue cover mid\\-term, does the member receive a pro\\-rata refund of contribution paid (after allowing for administration charges).\n\n2.14. Are annual audited financial statements lodged with ASIC?\n\nSelect Yes/No.\n\n2.15. Are annual audited financial statements distributed to all members?\n\nSelect Yes/No.","sortOrder":13}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":2497},"content_quality":"ok","complexity_score":5,"scope_assessment":{"changed":false,"description":"This is the original 2007 determination establishing baseline annual reporting requirements for DMFs. The scope remains focused on collecting static insurance and operational information for prudential supervision purposes."},"complexity_factors":["9 defined terms referencing external legislation (FS(COD) Act, APRA Act, AASB 121)","Dual submission tracks (electronic vs paper) with differing authentication and authorisation requirements","Tiered reporting obligations requiring assessment of whether sub-funds have distinct bank accounts and financial statements","Technical insurance and actuarial terminology (Maximum Event Retention, probability modelling, aggregate deductibles, reinstatement provisions)","Conditional due dates based on financial year-end timing with transitional provisions for 2008","Delegated powers allowing APRA to vary reporting frequency and make minor technical alterations without legislative amendment"],"plain_english_summary":"This Standard requires entities that control Discretionary Mutual Funds to annually file Form DRF 100.0 with APRA, disclosing key insurance, risk-retention, governance, funding and wind‑up arrangements, and whether financials and disclosure documents are provided to members. Reports are submitted electronically (or by paper) and signed by a senior officer.\n\nIt affects DMF controllers (including separate sub‑funds) and lets APRA monitor solvency, risk management and consumer protections."},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"The instrument does not change scope from its stated purpose: it imposes an annual reporting obligation on DMF entities (and qualifying subfunds) to supply insurance and related information to APRA (paras 1–3). APRA retains powers to vary reporting frequency for particular DMFs (para 7) and to make minor technical changes to forms (paras 14–15), which affect application and administrative burden but do not alter the population required to report."},"complexity_factors":["Multiple submission routes and authentication rules (electronic D2A with digital certificates; paper filing; agent rules) creating operational steps and identity controls (paras 4–5, 11–12).","Reporting applies at entity or subfund level where subfunds have separate bank accounts and financial statements, increasing granularity for multi‑fund operations (para 3; instruction guide).","APRA discretion to change reporting frequency for particular DMFs by written notice introduces administrative variability (para 7).","Quality control requirement obliges DMFs to develop and maintain internal policies and procedures for data authorisation (para 10), raising governance/compliance burden.","Form content requires technical insurance and actuarial detail (MER methodology, reinsurer ratings, reinstatement costs, call mechanics) and financial conversions (AASB 121; AUD thousands), requiring specialist inputs (instruction guide, basis of preparation).","APRA may make minor non‑substantive alterations to forms/instructions but must notify reporting entities, requiring monitoring of updates (paras 14–15).","Fixed due‑dates with limited extension mechanism create calendar compliance obligations (paras 8–9)."],"plain_english_summary":"Mechanically, this instrument requires every Discretionary Mutual Fund (DMF) entity to deliver APRA’s Form DRF 100.0 each year (or for each qualifying subfund) reporting insurance and related sundry data (paras 3, 6). APRA states the collection is for monitoring finance‑sector bodies (para 1). The DMF (the entity controlling the fund) bears the compliance cost, must maintain internal review controls (para 10), and must submit electronically or by signed paper (paras 4–5, 11–13). APRA can vary reporting frequency for particular DMFs (para 7)."}},"importantCases":[],"_links":{"self":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-33-of-2007-reporting-standar","history":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-33-of-2007-reporting-standar/history","analysis":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-33-of-2007-reporting-standar/analysis","conflicts":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-33-of-2007-reporting-standar/conflicts","importantCases":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-33-of-2007-reporting-standar/important-cases","documents":"/api/acts/financial-sector-collection-of-data-reporting-standard-determination-no-33-of-2007-reporting-standar/documents"}}