Commonwealth legislation

Financial Sector (Collection of Data) determination No. 45 of 2005

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

2/10 complexity

What this does: This determination cancels four outdated reporting rules for superannuation funds (retirement savings schemes) and replaces them with updated versions.

Who it affects: Trustees of superannuation entities—the people or companies responsible for managing Australians' retirement savings.

The details: APRA (the Australian Prudential Regulation Authority, which oversees banks and super funds) has revoked four specific reporting standards:

SRS 250.0 and SRS 340.0 (Superannuation Entity Profile reports)
SRS 260.0 and SRS 350.0 (Trustee Statement reports)

Transition: The old rules stop applying when the new corresponding standards take effect. However, trustees must still fulfill any reporting obligations that built up before 30 June 2005.

Why it matters: This ensures superannuation funds move to modernized reporting requirements while protecting historical compliance obligations.

JSON API

Deep dive

Want the full deep dive?

Zoe can write the in-depth analysis on top of the summary above: how it works, who it affects and what each part actually does.

Current sections

Direct links to the current provisions in Financial Sector (Collection of Data) determination No. 45 of 2005.

Financial Sector (Collection of Data) determination No. 45 of 2005

View image in the official source

Financial Sector (Collection of Data) determination No. 45 of 2005

Revocation of SRS 250.0, 260.0, 340.0 and 350.0

Financial Sector (Collection of Data) Act 2001

I, Charles Watts Littrell, a delegate of APRA, under paragraph 13(1)(a) of the Financial Sector (Collection of Data) Act 2001 (‘the Act’) and subsection 33(3) of the Acts Interpretation Act 1901 REVOKE the reporting standards set out in the Schedule, which have applied to trustees of superannuation entities as defined in the Superannuation Industry (Supervision) Act 1993.

Under section 15 of the Act, I DECLARE that a reporting standard set out in the Schedule shall cease to apply to those trustees on the day that its corresponding reporting standard begins to apply (without prejudice to any accrued obligation that may have arisen in respect of a reporting period ending before 30 June 2005).

Dated 21 June 2005

[signed]

……………………............

Charles Littrell

Executive General Manager

Policy, Research and Statistics Division

APRA

Interpretation

In this Notice

APRA means the Australian Prudential Regulation Authority.

corresponding reporting standard, in relation to a reporting standard set out in the Schedule, means the reporting standard, made on the date of this determination, that has the same series number (e.g. reporting standard SRS 250.0 (2005) made on the date of this determination is the corresponding reporting standard in relation to reporting standard SRS 250.0 mentioned in the Schedule).

Schedule

Reporting Standard SRS 250.0 Superannuation Entity Profile
Reporting Standard SRS 260.0 Trustee Statement
Reporting Standard SRS 340.0 Superannuation Entity Profile
Reporting Standard SRS 350.0 Trustee Statement

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Financial Sector (Collection of Data) determination No. 45 of 2005

Financial Sector (Collection of Data) determination No. 45 of 2005

Revocation of SRS 250.0, 260.0, 340.0 and 350.0

Financial Sector (Collection of Data) Act 2001

Dated 21 June 2005

[signed]

……………………............

Charles Littrell

Executive General Manager

Policy, Research and Statistics Division

APRA

Interpretation

In this Notice

APRA means the Australian Prudential Regulation Authority.

corresponding reporting standard, in relation to a reporting standard set out in the Schedule, means the reporting standard, made on the date of this determination, that has the same series number (e.g. reporting standard SRS 250.0 (2005) made on the date of this determination is the corresponding reporting standard in relation to reporting standard SRS 250.0 mentioned in the Schedule).

Schedule

Reporting Standard SRS 250.0 Superannuation Entity Profile
Reporting Standard SRS 260.0 Trustee Statement
Reporting Standard SRS 340.0 Superannuation Entity Profile
Reporting Standard SRS 350.0 Trustee Statement