Commonwealth legislation

Financial Sector (Collection of Data) (reporting standard) determination No. 43 of 2006

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

This determination removes a specific reporting obligation for certain banks.

What it does It revokes (cancels) Reporting Standard CRS 400.0 Specialist Credit Card Institutions. This standard previously required certain financial institutions to report data to the regulator about their credit card operations.

Who it affects

Specialist credit card institutions that are ADIs (Authorized Deposit-taking Institutions — banks and similar businesses that accept deposits from customers)
These institutions are no longer required to follow the CRS 400.0 reporting rules

Why it matters This cuts red tape for affected institutions. They no longer need to collect, format, and submit the specific data required by this standard. The change takes effect from the date this determination was officially registered.

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Current sections

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Financial Sector (Collection of Data) (reporting standard) determination No. 43 of 2006

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Financial Sector (Collection of Data) (reporting standard) determination No. 43 of 2006

Revocation of former reporting standard applying to ADIs

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 Standard CRS 400.0 Specialist Credit Card Institutions, which has applied to specialist credit card institutions, being ADIs as defined in the Banking Act 1959.

Under section 15 of the Act, I DECLARE that the Reporting Standard CRS 400.0 Specialist Credit Card Institutions shall cease to apply on the date of the registration of this determination on the Federal Register of Legislative Instruments.

Dated 26 June 2006

[signed]

Charles Littrell

Executive General Manager

Policy, Research and Statistics Division

APRA

Interpretation

In this Notice

APRA means the Australian Prudential Regulation Authority.

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. 43 of 2006

Financial Sector (Collection of Data) (reporting standard) determination No. 43 of 2006

Revocation of former reporting standard applying to ADIs

Financial Sector (Collection of Data) Act 2001

Dated 26 June 2006

[signed]

Charles Littrell

Executive General Manager

Policy, Research and Statistics Division

APRA

Interpretation

In this Notice

APRA means the Australian Prudential Regulation Authority.