Financial Sector (Collection of Data) (reporting standard) determination No. 14 of 2022 (Cth)

Financial Sector (Collection of Data) (reporting standard) determination No. 14 of 2022

Reporting Standard GRS 114.3 Off-balance Sheet Business

Financial Sector (Collection of Data) Act 2001

I, Alison Bliss, 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:

(a) revoke Financial Sector (Collection of Data) (reporting standard) determination No. 8 of 2013, including Reporting Standard GRS 114.3 Off-balance Sheet Business made under that Determination; and

(b) determine Reporting Standard GRS 114.3 Off-balance Sheet Business, in the form set out in the Schedule, which applies to the financial sector entities to the extent provided in paragraph 3 of the reporting standard.

Under section 15 of the Act, I declare that the reporting standard shall begin to apply to those financial sector entities, and the revoked reporting standard shall cease to apply, on the day it is registered on the Federal Register of Legislation.

This instrument commences upon registration on the Federal Register of Legislation.

Dated: 12 October 2022

Alison Bliss General Manager Data Analytics & Insights Division

Interpretation

In this Determination:

APRA means the Australian Prudential Regulation Authority.

financial sector entity has the meaning given by section 5 of the Act.

Schedule

Reporting Standard GRS 114.3 Off-balance Sheet Business comprises the document commencing on the following page.

Reporting Standard GRS 114.3

Off-balance Sheet Business

Objective of this Reporting Standard

This Reporting Standard sets out the requirements for the provision of information to APRA relating to a general insurer's off-balance sheet business.

It includes Form GRF 114.3 Off-balance Sheet Business and associated specific instructions and must be read in conjunction with the general instruction guide.