Commonwealth legislation

Financial Sector (Collection of Data) (reporting standard) determination No. 13 of 2010 - GRS 320.0 (2008) - Reconciliation of Annual Disclosure

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

1/10 complexity

What this does: This instrument scraps a previous reporting rule called Reporting Standard GRS 320.0 (2008). That old rule required certain financial companies to prepare reconciliations of their annual financial disclosures.

Who it affects: Banks, insurance companies, superannuation funds, and other financial institutions that previously had to comply with GRS 320.0 no longer need to submit this specific reconciliation report.

Why it matters: It removes a regulatory paperwork obligation, reducing reporting costs for affected entities from the date this instrument is registered.

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Financial Sector (Collection of Data) (reporting standard) determination No. 13 of 2010 - GRS 320.0 (2008) - Reconciliation of Annual Disclosure

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Financial Sector (Collection of Data) (reporting standard) determination No. 13 of 2010

Reporting Standard GRS 320.0 (2008) Reconciliation of Annual Disclosure

Financial Sector (Collection of Data) Act 2001

I, Ian Laughlin, 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 Reporting Standard GRS 320.0 (2008) Reconciliation of Annual Disclosure which came into effect on 3 November 2008 and is in force as at the date of this determination (the old standard).

Under section 15 of the Act, I DECLARE that the old standard shall cease to apply on the date of registration of this instrument on the Federal Register of Legislative Instruments.

Dated 30 July 2010

[Signed]

Ian Laughlin

Member

Source text

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

1 Financial Sector (Collection of Data) (reporting standard) determination No. 13 of 2010 - GRS 320.0 (2008) - Reconciliation of Annual Disclosure