Commonwealth Consolidated Acts Commonwealth Consolidated ActsNo. 104, 2001
Compilation No. 18
Compilation date: 20 October 2023
Includes amendments up to: Act No. 76, 2023
Registered: 6 November 2023
About this compilation
This compilation
This is a compilation of the Financial Sector (Collection of Data) Act 2001 that shows the text of the law as amended and in force on 20 October 2023 (the compilation date).
The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.
Uncommenced amendments
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
Editorial changes
For more information about any editorial changes made in this compilation, see the endnotes.
Modifications
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.
Self-repealing provisions
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
Contents
Part 1--Preliminary
1 Short title
2 Commencement
3 Object of Act
4 Extension to external Territories
5 Entities covered by the Act
5A Medical indemnity entities
6 Application of Criminal Code
6A Application of Act
Part 2--Registration of corporations
8 Register of entities
9 Obligations of corporations
10 Matters to be included in Register of Entities
11 List of names and categories of registered entities
Part 3--Provision of documents to APRA
Division 1--Deferred application of this Part in relation to registered entities
12 Application
Division 2--Determination of reporting standards and requirement to provide documents
13 Determination of reporting standards for, and the provision of, certain documents
13A Copy of reporting standard to be given to financial sector entities and the Minister etc.
13B Financial sector entity must not disclose that it has been given a copy of a reporting standard etc.
13C Minister may direct APRA to determine reporting standards
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
15 When reporting standards begin to apply to particular financial sector entities
16 Exemptions
17 APRA may require the variation of a reporting document or the provision of financial information
Division 2A--Auditing of documents
17A Application of this Division
17B Auditor's functions and duties
17C Auditor must notify APRA of attempts to unduly influence etc. the auditor
17D Giving false or misleading information to auditor
Division 3--Administrative penalties in lieu of prosecution for certain offences
18 Application of Division
19 When an infringement notice can be served
20 Matters to be included in an infringement notice
21 Withdrawal of infringement notice
22 What happens if penalty is paid
23 More than one infringement notice may not be served for the same offence
24 Infringement notice not required to be served
25 APRA may extend period for payment of penalty
Part 3A--Review of decisions
25A Notice of reviewable decision
25B Request for review of decisions
25C Review of decision
25D Applications to Administrative Appeals Tribunal
Part 4--Miscellaneous
26 Saving of other laws
27 Entities may be directed to comply with Act
28 Validity of acts and transactions of financial sector entities
29 Corporation not to hold out that it is a registered entity
29A Delegation by Minister
30 Regulations
Part 5--Interpretation
31 Definitions
32 Meaning of certain other expressions
33 Assets of corporations
34 Related corporations
Endnotes
Endnote 1--About the endnotes
Endnote 2--Abbreviation key
Endnote 3--Legislation history
Endnote 4--Amendment history
The endnotes provide information about this compilation and the compiled law.
The following endnotes are included in every compilation:
Endnote 1--About the endnotes
Endnote 2--Abbreviation key
Endnote 3--Legislation history
Endnote 4--Amendment history
Abbreviation key--Endnote 2
The abbreviation key sets out abbreviations that may be used in the endnotes.
Legislation history and amendment history--Endnotes 3 and 4
Amending laws are annotated in the legislation history and amendment history.
The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.
The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.
Editorial changes
The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.
If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.
Misdescribed amendments
A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.
If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and "(md not incorp)" is added to the amendment history.
ad = added or inserted | o = order(s) |
am = amended | Ord = Ordinance |
amdt = amendment | orig = original |
c = clause(s) | par = paragraph(s)/subparagraph(s) |
C[x] = Compilation No. x | /sub-subparagraph(s) |
Ch = Chapter(s) | pres = present |
def = definition(s) | prev = previous |
Dict = Dictionary | (prev ... ) = previously |
disallowed = disallowed by Parliament | Pt = Part(s) |
Div = Division(s) | r = regulation(s)/rule(s) |
ed = editorial change | reloc = relocated |
exp = expires/expired or ceases/ceased to have | renum = renumbered |
effect | rep = repealed |
F = Federal Register of Legislation | rs = repealed and substituted |
gaz = gazette | s = section(s)/subsection(s) |
LA = Legislation Act 2003 | Sch = Schedule(s) |
Sdiv = Subdivision(s) | |
(md) = misdescribed amendment can be given | SLI = Select Legislative Instrument |
effect | SR = Statutory Rules |
(md not incorp) = misdescribed amendment | Sub-Ch = Sub-Chapter(s) |
cannot be given effect | SubPt = Subpart(s) |
mod = modified/modification | underlining = whole or part not |
No. = Number(s) | commenced or to be commenced |
Endnote 3--Legislation history
Act | Number and year | Assent | Commencement | Application, saving and transitional provisions |
104, 2001 | 17 Sept 2001 | s 7-30: 1 July 2002 (s 2(2) and gaz 2002, No GN24) |
| |
Corporations (Repeals, Consequentials and Transitionals) Act 2001 | 55, 2001 | 28 June 2001 | s 4-14 and Sch 3 (item 191): 15 July 2001 (s 2(3) and gaz 2001, No S285) | |
119, 2001 | 19 Sept 2001 | Sch 3 (item 11): 1 July 2002 (s 2(2)) | -- | |
Medical Indemnity (Prudential Supervision and Product Standards) (Consequential Amendments) Act 2003 | 36, 2003 | 2 May 2003 | Sch 1 (items 2, 3): 1 July 2003 (s 2) | -- |
Private Health Insurance (Transitional Provisions and Consequential Amendments) Act 2007 | 32, 2007 | 30 Mar 2007 | Sch 2 (item 10): 1 Apr 2007 (s 2(1) item 7) | -- |
149, 2007 | 24 Sept 2007 | Sch 1: 24 Sept 2007 (s 2(1) item 2) | -- | |
Financial Sector Legislation Amendment (Simplifying Regulation and Review) Act 2007 | 154, 2007 | 24 Sept 2007 | Sch 4 (items 37-40): 24 Sept 2007 (s 2(1) item 7) | -- |
Financial Sector Legislation Amendment (Review of Prudential Decisions) Act 2008 | 25, 2008 | 26 May 2008 | Sch 4 (items 15-17, 43): 26 May 2008 (s 2(1) item 11) | Sch 4 (item 43) |
Financial Sector Legislation Amendment (Enhancing Supervision and Enforcement) Act 2009 | 75, 2009 | 27 Aug 2009 | Sch 1 (item 203): 27 Feb 2010 (s 2(1) item 2) | -- |
Financial Sector Legislation Amendment (Prudential Refinements and Other Measures) Act 2010 | 82, 2010 | 29 June 2010 | Sch 4 (items 7-25): 27 July 2010 (s 2(1) item 13) | Sch 4 (item 37) |
5, 2011 | 22 Mar 2011 | Sch 7 (item 61): 19 Apr 2011 (s 2(1) item 18) | -- | |
Superannuation Legislation Amendment (Further MySuper and Transparency Measures) Act 2012 | 171, 2012 | 3 Dec 2012 | Sch 3 (items 24-37, 46): 1 July 2013 (s 2(1) items 16, 18) | Sch 3 (item 46) |
87, 2015 | 26 June 2015 | Sch 1 (item 21, 22): 1 July 2015 (s 2(1) item 2) | Sch 2 | |
64, 2017 | 23 June 2017 | Sch 1 (items 2, 3): 24 June 2017 (s 2(1) item 2) | -- | |
Treasury Laws Amendment (Banking Measures No. 1) Act 2018 | 9, 2018 | 5 Mar 2018 | Sch 2: 5 Mar 2018 (s 2(1) item 2) | -- |
Corporations Amendment (Asia Region Funds Passport) Act 2018 | 61, 2018 | 29 June 2018 | Sch 2A (item 3): 18 Sept 2018 (s 2(1) item 2) | -- |
Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No. 1) Act 2019 | 40, 2019 | 5 Apr 2019 | Sch 8 (items 2A-4): 6 Apr 2019 (s 2(1) item 4) | Sch 8 (item 4) |
Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 | 76, 2023 | 20 Sept 2023 | Sch 2 (items 640-643): 20 Oct 2023 (s 2(1) item 2) | -- |
Provision affected | How affected |
Part 1 |
|
s 3..................... | am No 149, 2007; No 82, 2010; No 171, 2012; No 87, 2015; No 64, 2017 |
s 5..................... | am No 119, 2001; No 36, 2003; No 149, 2007; No 82, 2010; No 76, 2023 |
s 5A.................... | ad No 36, 2003 |
s 6A.................... | ad No 149, 2007 |
Part 2 |
|
s 7..................... | am No 32, 2007; No 75, 2009; No 87, 2015; No 9, 2018 |
s 9..................... | am No 5, 2011 |
Part 3 |
|
Division 2 |
|
s 13.................... | am No 154, 2007; No 82, 2010; No 171, 2012; No 64, 2017; No 61, 2018; No 40, 2019; No 76, 2023 |
s 13A................... | ad No 82, 2010 |
s 13B................... | ad No 82, 2010 |
| am No 171, 2012 |
s 13C................... | ad No 82, 2010 |
s 16.................... | am No 154, 2007; No 82, 2010 |
Division 2A |
|
Division 2A............... | ad No 82, 2010 |
s 17A................... | ad No 82, 2010 |
s 17B................... | ad No 82, 2010 |
s 17C................... | ad No 82, 2010 |
s 17D................... | ad No 82, 2010 |
Part 3A |
|
Part 3A.................. | ad No 25, 2008 |
s 25A................... | ad No 25, 2008 |
s 25B................... | ad No 25, 2008 |
s 25C................... | ad No 25, 2008 |
s 25D................... | ad No 25, 2008 |
Part 4 |
|
s 29A................... | ad No 82, 2010 |
Part 5 |
|
s 31.................... | am No 149, 2007; No 25, 2008; No 82, 2010; No 171, 2012; No 9, 2018; No 76, 2023 |
s 32.................... | am No 9, 2018 |
s 34.................... | am No 55, 2001 |