Australian Prudential Regulation Authority Act 1998

PART 6 - SECRECY

SECTION 57 DETERMINATION OF CONFIDENTIALITY

57(1)

This section applies in relation to reporting documents that are required to be given to APRA under section 13 of the Financial Sector (Collection of Data) Act 2001 by:

(a) a registered entity; or

(b) a body regulated by APRA.

A reporting document of that kind is referred to in this section as a relevant reporting document .

57(2)

View history reference

APRA may determine, by legislative instrument, that:

(a) all or a specified part of a relevant reporting document contains, or does not contain, confidential information; or

(b) all or a specified part of relevant reporting documents of a specified kind contains, or do not contain, confidential information.

57(3)
APRA must not make a determination under subsection (2) unless APRA gives interested parties for the determination a reasonable opportunity to make representations as to whether or not the relevant reporting document contains, or relevant reporting documents of that kind contain, confidential information.

57(4)
APRA may determine that:

(a) all or a specified part of a relevant reporting document does not contain confidential information; or

(b) all or a specified part of relevant reporting documents of a specified kind do not contain confidential information;

if, taking into account any representations made under subsection (3) in relation to the document or documents of that kind, APRA considers that the benefit to the public from the disclosure of the document or documents, or information contained in the document or documents, outweighs any detriment to commercial interests that the disclosure may cause.

57(5)
In this section:

interested party
, for a determination, means:

(a) if the determination is to relate to all or a specified part of a relevant reporting document - an entity or body that is required to give the document under section 13 of the Financial Sector (Collection of Data) Act 2001 ; or

(b) if the determination is to relate to all or a specified part of a relevant reporting document of a specified kind - an association or other body representing an entity or body, or a class of entities or bodies, required to give a document of that kind under section 13 of the Financial Sector (Collection of Data) Act 2001 .

registered entity
means a corporation that is, or has at any time been, a registered entity within the meaning of the Financial Sector (Collection of Data) Act 2001 .

View history note

History

S 57 substituted by No 171 of 2012, s 3 and Sch 3 item 4, effective 1 July 2013. No 171 of 2012, s 3 and Sch 3 item 45 contains the following savings provision:

45 Savings provision - section 57 determinations
(1)
A determination that:

(a) is made under section 57 of the old law; and

(b) is in force immediately before this item commences;
has effect on and after this item commences as if it had been made under section 57 of the new law.

(2)
If, before this item commences:

(a) APRA has, for the purposes of paragraph 57(a) of the old law, given an entity, association or other body the opportunity to make representations in respect of information of the kind contained in a document; and

(b) APRA has not made a determination under section 57 of the old law in respect of the document;
any representations made by the entity, association or other body in respect of information of the kind contained in the document, whether the representations are made before, on or after this item commences, are taken to have been made for the purposes of subsection 57(3) of the new law.

(3)
In this item:
new law
means the Australian Prudential Regulation Authority Act 1998 as amended by this Schedule.

old law
means the Australian Prudential Regulation Authority Act 1998 as in force immediately before this item commences.

S 57 formerly read:

SECTION 57 DETERMINATION AS TO CONFIDENTIALITY
57
APRA may, by legislative instrument, determine whether a document that was given to APRA by a registered entity, or by a body regulated by APRA, under section 13 of the Financial Sector (Collection of Data) Act 2001 contains confidential information, but must not make such a determination unless APRA has:

(a) given to the entity or body, or to an association or other body representing the class of entities or bodies within which the entity or body is included, a reasonable opportunity to make representations as to whether information of the kind contained in the document is confidential; and

(b) taken any such representations into account.

S 57 inserted by No 121 of 2001, s 3 and Sch 2 item 10, effective 1 July 2002; amended by No 74 of 2007, s 4 and Sch 3 item 3-5, effective 5 June 2007.

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