3Object of Act

3 Object of Act

(1) The object of this Act is to enable the Australian Prudential Regulation Authority (APRA) to collect information for the purposes of: (a) assisting APRA to perform its functions or exercise its powers under other laws; and (aa) enabling APRA to publish information given by financial sector entities; and (b) assisting another financial sector agency to perform its functions or exercise its powers; and (c) assisting the Minister to formulate financial policy; and (d) reporting amounts for the purposes of the Major Bank Levy Act 2017. (2) In order to achieve that object, this Act: (a) provides for certain corporations to be registered, and divided into categories, by APRA; and (b) authorises APRA to determine reporting standards for corporations that are so registered and for certain other bodies that it regulates or monitors and to require them to provide APRA with information about their businesses and activities.