16Exemptions

16 Exemptions

(1) APRA may, by written notice, exempt a financial sector entity from the requirement to comply with: (a) all the requirements contained in any one or more applicable reporting standards; or (b) a specified requirement or requirements contained in an applicable reporting standard or applicable reporting standards. (1A) A notice under subsection (1) is not a legislative instrument. (1B) APRA may, by legislative instrument, exempt a class or kind of financial sector entities from the requirement to comply with: (a) all the requirements contained in any one or more applicable reporting standards; or (b) a specified requirement or requirements contained in an applicable reporting standard or applicable reporting standards. (2) An exemption under subsection (1) or (1B) may be unconditional or subject to conditions and may be of indefinite duration or limited in the time of its operation.