Financial Sector (Collection of Data) Regulations 2008

Select Legislative Instrument 2008 No. 124 as amended

made under the

Financial Sector (Collection of Data) Act 2001

This compilation was prepared on 9 April 2011
taking into account amendments up to SLI 2011 No. 48

Prepared by the Office of Legislative Drafting and Publishing,
Attorney-General’s Department, Canberra

Contents

 1 Name of Regulations [see Note 1]

 2 Commencement 

 3 Definition 

 4 Discretionary mutual funds 

 5 Financial sector agencies 

Notes   

1 Name of Regulations [see Note 1]

  These Regulations are the Financial Sector (Collection of Data) Regulations 2008.

2 Commencement

  These Regulations commence on 1 July 2008.

3 Definition

  In these Regulations:

Act means the Financial Sector (Collection of Data) Act 2001.

4 Discretionary mutual funds

 (1) For paragraph 5 (5) (b) of the Act, a fund meeting the following criteria is declared to be a discretionary mutual fund:

 (a) 2 or more persons have contributed to the fund;

 (b) payments have been or may be made out of the fund in respect of liabilities, losses, damages or expenses of the contributors;

 (c) the fund is governed by rules under which any such payments for the benefit of the contributors are subject to a discretion of a person or body other than the contributors.

 (2) For paragraph 5 (5) (b) of the Act, a fund meeting the following criteria is declared to be a discretionary mutual fund:

 (a) only 1 person contributes or has contributed to the fund;

 (b) payments have been or may be made out of the fund in respect of liabilities, losses, damages or expenses of the contributor or another person (the covered person);

 (c) the fund is governed by rules under which any such payments for the benefit of the contributor or the covered person are subject to a discretion of a person or body other than the contributor or the covered person.

5 Financial sector agencies

  For paragraph (c) of the definition of financial sector agency in section 31 of the Act, the Australian Bureau of Statistics is prescribed.

Notes to the Financial Sector (Collection of Data) Regulations 2008

Note 1

The Financial Sector (Collection of Data) Regulations 2008 (in force under the Financial Sector (Collection of Data) Act 2001) as shown in this compilation comprise Select Legislative Instrument 2008 No. 124 amended as indicated in the Tables below.

Table of Instruments

Table of Amendments