National Consumer Credit Protection (Large ADI) Determination 2023 (Cth)

National Consumer Credit Protection (Large ADI) Determination 2023

I, Stephen Jones, Assistant Treasurer and Minister for Financial Services, make the following determination.

Dated 14 September 2023

Stephen Jones Assistant Treasurer Minister for Financial Services

Contents Part 1—Preliminary 1 Name 2 Commencement 3 Authority 4 Definitions Part 2—Determining the kinds of ADIs that are large ADIs 5 Size of an ADI 6 Total resident assets value 7 Reporting Standards 8 Indexation of large ADI threshold Part 3—Transitional provision 9 Transitional provision for large ADIs

Part 1—Preliminary

1 Name This instrument is the National Consumer Credit Protection (Large ADI) Determination 2023.

2 Commencement (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information Column 1 Column 2 Column 3 Provisions Commencement Date/Details 1. The whole of this instrument The day after this instrument is registered.

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument. (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3 Authority This instrument is made under the National Consumer Credit Protection Act 2009.

4 Definitions Note: Expressions have the same meaning in this instrument as in the National Consumer Credit Protection Act 2009 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003. In this instrument: final report means a report in relation to an ADI's final reporting period in a financial year submitted by the ADI to APRA under: (a) Reporting Standard ARS 323.0; or (b) Reporting Standard ARS 720.0. financial year of an ADI has the meaning given by section 323D of the Corporations Act 2001. large ADI: see section 5. old determination means the Banking Executive Accountability Regime (Size of an Authorised Deposit-taking Institution) Determination 2021 as in force immediately before the commencement of Part 2 of Schedule 1 to the Financial Accountability Regime (Consequential Amendments) Act 2023. Reporting Standard: see section 7. Reporting Standard ARS 323.0 means the reporting standard set out in the Schedule to the Financial Sector (Collection of Data) (reporting standard) determination No. 27 of 2019. Reporting Standard ARS 720.0 means the reporting standard set out in the Schedule to the Financial Sector (Collection of Data) (reporting standard) determination No. 25 of 2021. the Act means the National Consumer Credit Protection Act 2009. total asset size: see section 5. total resident assets value: see section 6.