Financial Sector (Collection of Data) (reporting standard) determination No. 89 of 2006 - Reporting Standard GRS 430.0 (2007) Claims Expense by State and Territory of Australia
Minor alterations to forms and instructiMinor alterations to forms and instructions
Start here
Get a plain-English read of Minor alterations to forms and instructi
Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 89 of 2006 - Reporting Standard GRS 430.0 (2007) Claims Expense by State and Territory of Australia.
Minor alterations to forms and instructions
- APRA may make minor variations to:
(a) a form that is part of this reporting standard, and the instructions to such a form, to correct technical, programming or logical errors, inconsistencies or anomalies; or
(b) the instructions, to clarify their application to the form
without changing any substantive requirement in the form or instructions.
- If APRA makes such a variation it must notify general insurers in writing.
Transition
- An insurer must report in relation to a reporting period ending prior to 1 January 2007 in accordance with the reporting standard that this reporting standard replaced.
Interpretation
- In this reporting standard:
authorised reinsurer means an insurer whose business consists only of undertaking liability by way of reinsurance;
approved auditor means an auditor who has been approved by APRA under section 40 of the Insurance Act;
foreign insurer means a foreign general insurer within the meaning of the Insurance Act;
Note: A reference to a ‘branch’ or ‘branch operation’ is a reference to the Australian operations of a foreign insurer.
Insurance Act means the Insurance Act 1973;
insurer means a general insurer within the meaning of the Insurance Act;
Note: In the forms and instructions, a reference to an ‘authorised insurer’, ‘authorised insurance entity’ or ‘licensed insurer’ is a reference to an insurer.