CTHIn ForceLegislation
Banking, Insurance and Life Insurance (prudential standard) determination No. 2 of 2016
Notification requirementsNotification requirements
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Notification requirements
- A Level 3 Head must notify APRA as soon as practicable, and no more than 10 business days, after it becomes aware:
(a) of a breach of the limits in the aggregate risk exposures policy;
(b) of any significant breach of, or material deviation from, the aggregate risk exposures policy; or
(c) that the aggregate risk exposures policy did not adequately address a material risk,
and advise of remedial actions taken, or planned to be taken, to deal with the issue.
- A Level 3 Head must submit to APRA a copy of its aggregate risk exposures policy as soon as practicable, and no more than 10 business days, after Board approval.