Minor alterations to forms and instructiMinor alterations to forms and instructions

Minor alterations to forms and instructions

12. APRA may:

(a) make minor variations to the Data Specifications (either generally, or in relation to a class of Lloyd’s underwriters, or in relation to one or more named Lloyd’s underwriters) to correct technical, programming or logical errors, inconsistencies or anomalies;

(b) vary, omit or substitute (either generally, or in relation to a class of Lloyd’s underwriters, or in relation to one or more named Lloyd’s underwriters) an occupation code or description in Appendix C to the Data Specifications, if APRA forms the view that the existing code or description is inappropriate having regard to the circumstances or business of Lloyd’s and any other relevant considerations; or

(c) vary, omit or substitute (either generally, or in relation to a class of Lloyd’s underwriters, or in relation to a one or more named Lloyd’s underwriters) a specification in a Table in the Data Specifications, if APRA forms the view that the specification is inappropriate having regard to the circumstances or business of Lloyd’s underwriters and any other relevant considerations.

13. If APRA makes such a variation it must notify Lloyd’s in writing.

Past reporting periods

14. Lloyd’s must provide APRA with reports in respect of a past reporting period under the old reporting standard, notwithstanding that it was repealed on 8 August 2013. For these purposes:

old reporting standard means the reporting standard Reporting standard LOLRS 800.3 (2005) made by Financial Sector (Collection of Data) determination No. 35 of 2005;

past reporting period means a reporting period ending on a date between 1 June 2013 and 1 June 2016.

15. Lloyd’s must provide reports to APRA under paragraph 14 of this reporting standard by 1 September 2016. For the avoidance of doubt, where a general insurer has provided a report to APRA prior to 1 September 2016 in relation to a past reporting period, the general insurer has complied with paragraph 14.