Financial Sector (Collection of Data) (reporting standard) determination No. 11 of 2020
Related entity sectorRelated entity sector
Start here
Get a plain-English read of Related entity sector
Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 11 of 2020.
Related entity sector
Banking institution means an authorised deposit-taking institution within the meaning of the Banking Act 1959, as well as banking institutions authorised in other jurisdictions.
Insurance corporation means:
• life insurance corporations registered under the Life Insurance Act 1995;
• general insurance corporations authorised under the Insurance Act 1973 (or by virtue of determinations made by APRA under the General Insurance Reform Act 2001);
• private health insurance corporations registered under the Private Health Insurance (Prudential Supervision) Act 2015;
• the Export Finance Insurance Corporation;
• private sector and government-owned general and health insurance enterprises, both proprietary and mutual; and
• any insurance corporation overseas.
Other counterparties includes any foreign ADI related entity that is not a banking institution, an SPV, insurance corporation, superannuation fund or other financial institutions.
Other financial institutions means all entities mainly engaged in financial intermediation and the provision of auxiliary financial services, other than banking institutions, insurance corporations, superannuation funds, other counterparties.
SPV means Special Purpose Vehicle.
Superannuation funds means complying funds for the purposes of the Superannuation Industry (Supervision) Act 1993, other autonomous funds established for the benefit of public sector employees and any overseas funds designed specifically for the purpose of providing a pension or other income stream on retirement.