Superannuation Industry (Supervision) Regulations 1994

Div 4.1A repealed by SLI No 155 of 2013, reg 4 and Sch 1 item 95, effective 1 July 2013.

Div 4.1A inserted by SR No 113 of 2004, reg 3 and Sch 1 item 4, effective 1 July 2004.

Reg 4.07B repealed by SLI No 155 of 2013, reg 4 and Sch 1 item 95, effective 1 July 2013. Reg 4.07B formerly read:

REGULATION 4.07B RISK MANAGEMENT PLANS  
4.07B(1)
In this regulation:

material risk
means a risk to a registrable superannuation entity that has the potential, if realised, to:

(a) adversely affect the interests of members or beneficiaries of the entity; or

(b) have a significant impact on the business operations, reputation, rate of return, profitability or net assets of the entity.

4.07B(2)
For paragraph 29P(2)(c) of the Act, the following matters are prescribed:

(a) any material risk (a relevant material risk ) that is relevant to the registrable superannuation entity;

(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 entity if the risk is realised;

(c) the way in which the RSE licensee 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 RSE licensee 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 RSE licensee.

Note: A registrable superannuation entity will not be registered unless APRA is satisfied that the risk management plan for the entity meets the requirements of section 29P of the Act: see paragraph 29M(1)(d) of the Act.

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History

Reg 4.07B inserted by SR No 113 of 2004, reg 3 and Sch 1 item 4, effective 1 July 2004.