Financial Sector (Collection of Data) (reporting standard) determination No. 18 of 2016 - GRS 800.3 - Facility Business Data: Public and Product Liability and Professional Indemnity Insurance
Variation of reporting periodsVariation of reporting periods
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Variation of reporting periods
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APRA may, by notice in writing, change the reporting periods for a particular insurer so that it is required to provide reports under this reporting standard in respect of reporting periods based upon the insurer’s own accounting financial year.
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APRA may, by notice in writing, change the reporting periods for a particular insurer to require it to provide reports under this reporting standard:
(a) more frequently (APRA may require this when, having regard to the particular circumstances of the insurer, APRA considers it necessary or desirable to obtain information more frequently for the purposes of the prudential supervision of the insurer); or
(b) less frequently (APRA may do so when, having regard to the particular circumstances of the insurer and the extent to which it requires prudential supervision, and other relevant considerations, it is unnecessary to require it to provide the information on a 6 monthly basis).
- If APRA changes a reporting period under paragraph 4 or 5, a report required under this reporting standard in respect of the changed period must be provided no later than the last day of the second month after the end of the changed period or such later time as APRA may determine in writing.