This instrument replaces the 2012 specification and mechanically defines a specified class of Commonwealth debts under s206(1)(b)(ii) of the Veterans’ Entitlements Act. It treats as a specified class debts under section 52ZMA where the income stream was from a self‑managed superannuation fund or a small APRA fund and has been commuted and rolled over into a...

This Specification defines a narrow class of social security debts that may be waived under section 1237AB of the Social Security Act. It covers debts under section 1223A that were not caused by knowingly false information, where the relevant income stream came from a self‑managed superannuation fund or a small APRA fund and, after commencement, was...

The Taxation Administration Act 1953 is the procedural backbone for Australia’s tax system: it governs how the ATO is run, how tax debts are collected (including a general interest charge for late payments), and who is affected — essentially individuals, businesses, super funds and multinationals. It also forces transparency for large companies and...

The ASIC Act establishes and empowers the Australian Securities and Investments Commission as the regulator of companies, markets and financial services, giving it investigative and enforcement powers to protect consumers, small businesses, companies, advisers and investors. It defines what counts as financial products and services, bans misleading or...

The SIS Act is Australia’s rulebook for running superannuation funds, affecting members, trustees, SMSFs, employers and industry professionals. It sets who supervises funds, licensing and trustee duties, and measures to protect retirement savings (investment limits, rules on early release, default MySuper options) plus enforcement powers for regulators. It...

The Insurance Act 1973 is Australia’s core law for general insurance. It makes APRA the prudential regulator, requiring insurers (and certain holding companies) to be authorised and subject to fitness, capital and supervision rules so companies remain solvent and well run. It affects insurers, Lloyd’s underwriters, their directors and ultimately...

This Act is Australia’s primary law governing life insurers: it defines which products count as life insurance, requires life companies (including branches of foreign insurers and friendly societies) to be registered and to ring‑fence premiums in statutory funds, and places them under APRA/ASIC supervision. It matters to policyholders because it protects...

The Banking Act 1959 is Australia’s core law on who may take deposits and how banks must be run. It requires APRA approval for deposit taking, imposes prudential rules and supervision, provides a government backed deposit payout scheme, and gives APRA strong intervention powers to protect stability. It affects everyday depositors, authorised deposit‑taking...

This Act requires prior ministerial notification and approval for significant acquisitions, leases, or control altering agreements affecting Australian insurers, letting the Minister approve, impose conditions, or permanently block deals that harm prudential safety, market competition, or national interest. It affects Australian life and general insurers...

The Act establishes APRA as Australia’s national prudential regulator, setting out its purposes, powers, governance, finances, secrecy and information‑sharing duties. It underpins APRA’s regulation of banks, credit unions, insurers, superannuation trustees, private health insurers and related entities. Why it matters: the Act is APRA’s constitutional and...

This Act federalises State/Territory consumer credit rules into the National Consumer Credit Protection framework, creating detailed transitional rules so existing contracts, proceedings and rights continue without restarting. It establishes a temporary federal registration scheme for credit providers while licensing phases in. Who it affects and why it...

The Retirement Savings Accounts Act 1997 creates and regulates Retirement Savings Accounts (RSAs) — a bank or insurer‑style, capital‑guaranteed product for holding retirement savings. Only approved banks, credit unions and life insurers may offer RSAs, which are ring‑fenced for retirement and protected from investment losses, assignment, or use as loan...

This legislation overhauls Australia’s financial regulatory framework, creating a prudential regulator (APRA) and expanding the securities regulator (ASIC) to strengthen oversight of banks, insurers, superannuation and payment systems. It tightens rules and enforcement, improves disclosure and regulator coordination, and smooths the transition for existing...

This law sets rules for medical indemnity insurance: it prescribes minimum cover (A$5 million per claim, s16), requires certain providers to be regulated insurers (s10), forces insurers to offer retroactive and run‑off cover in specified circumstances (ss22–24, 26A–26C), and gives APRA and ASIC administrative powers (ss28–30). It applies to insurers,...

This Act protects and validates payment‑system and netting arrangements: it lets the Reserve Bank approve RTGS payment/settlement systems (s9), treats RTGS payments crossing an external‑administration event as effective (ss6–6A), and preserves enforceability of market netting contracts and related securities in insolvency (s16). It gives APRA power to pause...

What it does: The Act gives APRA authority to approve or force transfers of business or shares, and to approve restructures inside banking and insurance groups (ADIs, life and general insurers, NOHCs). Transfers take legal effect when APRA issues a signed certificate and, for partial transfers, must identify the assets/liabilities transferred. Who decides...

This Act creates a prudential rulebook for Australia’s private health insurers, giving APRA power to register and supervise insurers, require ring‑fenced health benefits funds, set financial standards, approve major reorganisations, and step in (including appointing external managers) if an insurer is failing. It affects insurers, their directors and...

The TFN Rule turns prior guidance into legally binding rules on how individuals’ Tax File Numbers are collected, used, stored, disclosed, secured and destroyed. It binds TFN recipients (tax, superannuation, assistance bodies and approved agents), limits TFN use to authorised statutory purposes, and requires transparency, training and “reasonable steps”...

This instrument fixes APRA’s charges for providing specified 2024–25 statistical data about financial‑sector entities to the ABS and the RBA, and for development and maintenance of the Economic and Financial Statistics (EFS) collection system and related APIs. It lists the amounts payable by the ABS and RBA, requires payment within 28 days of APRA’s...

This Prudential Standard requires each Level 3 Head to appoint a group Appointed Auditor, set binding engagement terms, give the auditor access to group data and staff, and deliver annual assurance reports to APRA and the board on prudential data, reporting and internal controls. APRA may require additional or special‑purpose engagements and may adjust or...

This Prudential Standard requires APRA‑regulated institutions to maintain and report a comprehensive risk management framework — including a Board‑approved risk appetite and risk management strategy, a three‑year business plan, dedicated risk and compliance functions, MIS, stress testing and an annual Board declaration to APRA. It applies to ADIs, general...

This Prudential Standard requires APRA‑regulated financial firms — banks, general and life insurers, private health insurers and superannuation trustees — to maintain information security measures proportionate to threats and the sensitivity and criticality of their information assets. Boards are ultimately responsible and must ensure policies, asset...

The Financial Accountability Regime Act 2023 makes senior executives and boards of banks, insurers and superannuation trustees personally accountable for governance and misconduct, requiring organisations to map responsibilities, register key people and hold back significant variable pay. Regulators can claw back deferred pay, impose fines and disqualify...

What this law does (mechanics first) Establishes who and what a "society" (a cooperative housing society) is, and makes each registered society a corporation with perpetual succession (secs. 72–75). Gives the Registrar broad prudential, supervisory and administrative powers over societies, including making binding standards, supervising compliance,...

What this Act does (mechanically) Establishes the Financial Regulator Assessment Authority (the Authority) as a small, independent body (a Chair and 2 other members) to assess the performance and capability of the two main Australian financial regulators: APRA (prudential regulator) and ASIC (market/conduct regulator) (ss 9–12, 24). Requires the Authority...

What this law does (simple): Gives APRA (the Australian Prudential Regulation Authority) the power to register certain corporations, keep a public register and divide registered corporations into categories (ss 7–11). Authorises APRA to set reporting standards (the form, content, timing and audit requirements of reports) and require financial‑sector...

Mechanically, this Reporting Standard requires general insurers to submit, on a regular timetable, detailed policy level CSV data (GRF 800.1) about public liability, product liability and professional indemnity policies to APRA. It prescribes exact field layouts, formats, validation rules, submission/authentication steps and timetables. APRA says it will...