Reg 4.07A repealed by SLI No 155 of 2013, reg 4 and Sch 1 item 95, effective 1 July 2013. Reg 4.07A formerly read:
REGULATION 4.07A RISK MANAGEMENT STRATEGIES
4.07A(1)
In this regulation:
material risk
means a risk to a body corporate or group of individual trustees mentioned in subsection
29H(1)
of the Act that has the potential, if realised, to:
(a)
adversely affect the interests of members or beneficiaries of the registrable superannuation entity for which the body or group is the RSE licensee; or
(b)
have a significant impact on the business operations, reputation, rate of return, profitability or net assets of the body or group.
4.07A(2)
For paragraph
29H(2)(c)
of the Act, the following matters are prescribed:
(a)
any material risk (a
relevant material risk
) that is relevant to the body or group;
(b)
an assessment of each relevant material risk, taking into account:
(i)
the likelihood of the risk being realised; and
(ii)
the consequences for the body or group if the risk is realised;
(c)
the way in which the body or group proposes to treat each relevant material risk, including:
(i)
the proposed risk response strategy or strategies for the risk; and
(ii)
the measures and procedures that the body or group proposes to apply to address the risk;
(d)
an assessment of the residual risk for each relevant material risk, having regard to:
(i)
the assessment of the relevant material risk under paragraph (b); and
(ii)
the likely effect of the proposed treatment of the relevant material risk under paragraph (c);
(e)
the proposed arrangements for internal oversight, implementation and reporting in relation to the management of the relevant material risks by the body or group.
Note:
An RSE licence will not be granted unless APRA is satisfied that the risk management strategy for the body corporate or group of individual trustees meets the requirements of section
29H
of the Act: see paragraph
29D(1)(e)
of the Act.
History
Reg 4.07A inserted by SR No 113 of 2004, reg 3 and Sch 1 item 4, effective 1 July 2004.
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