Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Financial Sector (Collection of Data) Bill 2001

 

 

 

 

Financial Sector (Collection of Data) Act 2001

 

No. 104, 2001



 

 

 

 

Financial Sector (Collection of Data) Act 2001

 

No. 104, 2001

 

 

 

 

An Act to provide for the collection of information from bodies in the financial sector, and for related purposes

   

   

   



Contents

Part 1—Preliminary                                                                                                                1

1............ Short title............................................................................................ 1

2............ Commencement.................................................................................. 2

3............ Object of Act...................................................................................... 2

4............ Extension to external Territories......................................................... 2

5............ Entities covered by the Act................................................................ 2

6............ Application of Criminal Code ............................................................ 3

Part 2—Registration of corporations                                                                            4

7............ Registrable corporations..................................................................... 4

8............ Register of entities.............................................................................. 6

9............ Obligations of corporations................................................................ 6

10.......... Matters to be included in Register of Entities.................................... 9

11.......... List of names and categories of registered entities.............................. 9

Part 3—Provision of documents to APRA                                                               11

Division 1—Deferred application of this Part in relation to registered entities                 11

12.......... Application....................................................................................... 11

Division 2—Determination of reporting standards and requirement to provide documents      12

13.......... APRA may determine reporting standards for, and require provision of, certain documents 12

14.......... Principal executive officer of financial sector entity (other than a superannuation entity) to notify the entity’s governing body of a failure to provide reporting documents to APRA.. 14

15.......... When reporting standards begin to apply to particular financial sector entities     15

16.......... Exemptions....................................................................................... 15

17.......... APRA may require the variation of a reporting document or the provision of financial information     15

Division 3—Administrative penalties in lieu of prosecution for certain offences             18

18.......... Application of Division.................................................................... 18

19.......... When an infringement notice can be served...................................... 18

20.......... Matters to be included in an infringement notice............................. 18

21.......... Withdrawal of infringement notice................................................... 19

22.......... What happens if penalty is paid...................................................... 20

23.......... More than one infringement notice may not be served for the same offence          21

24.......... Infringement notice not required to be served.................................. 21

25.......... APRA may extend period for payment of penalty.......................... 22

Part 4—Miscellaneous                                                                                                        23

26.......... Saving of other laws.......................................................................... 23

27.......... Entities may be directed to comply with Act.................................. 23

28.......... Validity of acts and transactions of financial sector entities............ 23

29.......... Corporation not to hold out that it is a registered entity................. 23

30.......... Regulations....................................................................................... 24

Part 5—Interpretation                                                                                                         25

31.......... Definitions........................................................................................ 25

32.......... Meaning of certain other expressions............................................... 26

33.......... Assets of corporations..................................................................... 27

34.......... Related corporations......................................................................... 28

 



Financial Sector (Collection of Data) Act 2001

No. 104, 2001

 

 

 

An Act to provide for the collection of information from bodies in the financial sector, and for related purposes

[ Assented to 17 September 2001 ]

The Parliament of Australia enacts: