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SRS 240.0 Membership Profile

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					                                                                                                 April 2003


Reporting Standard SRS 240.0
Membership Profile
Objective

This reporting standard is made under section 13 of the Financial Sector (Collection of
Data) Act 2001 (‘the Collection of Data Act’). It requires a registered superannuation
entity1 to report to APRA, on an annual basis, information in relation to the profile of
membership of the superannuation entity and of member benefits.

This standard outlines the overall requirements for the provision of this information to
APRA. It should be read in conjunction with the version of Form SRF 240.0 ‘Membership
Profile’ designated ‘registered superannuation entity’ and the associated instructions
(each of which forms part of this standard).


Purpose

Data collected in Form SRF 240.0 is used by APRA for the purpose of prudential
supervision.

Application and Commencement

This standard applies to a registered superannuation entity. Its provisions will apply to
financial years ending on and after 30 June 2004 or such other date declared by APRA. 2


Information Required

1. A registered superannuation entity must provide APRA with the information required
   by the version of Form SRF 240.0 designated ‘registered superannuation entity’ for
   the first 3 and subsequent reporting periods.



1
    ‘Registered superannuation entity’ refers to a superannuation entity regulated by APRA as defined in
    SIS 1992 10(1). In reporting Form SRF 240.0 and the instructions, the terms ‘‘Public Offer
    Superannuation Funds ’, ‘Other APRA regulated superannuation entities’, ‘Multi-Member
    Approved Deposit Funds’, ‘Pooled Superannuation Trusts’ and ‘Eligible Rollover Funds ’ mean
    an authorised superannuation entity regulated by APRA. This form does not apply to Small APRA
    Funds (SAFs)’ and ‘Single-Member Approved Deposit Funds’.
2
    See section 15 of the Collection of Data Act.
3
    For most registered superannuation entities, the first annual reporting period will be the financial year
    ending 30 June 2004.


                                                                   Reporting Standard SRS 240.0- 1
                                                                               April 2003



Forms and Method of Submission
2. As with all forms, a registered superannuation entity can provide the information in
   electronic form via the ‘Direct to APRA’ application and using one of the electronic
   submission mechanisms provided by that application. Alternatively, they may do so
   by m anually completing the forms on paper and faxing or mailing them to APRA by
   the due date required for lodgment. The application software and forms can be
   obtained from APRA.

Reporting Periods and Due Dates
3. Subject to paragraphs 4 and 5, a registered superannuation entity must provide this
   information for the financial year of the registered superannuation entity.

4. The following registered superannuation entity are not required to complete this form:

   (a)    Small APRA Funds (SAFs)’ and ‘Single-Member Approved Deposit Funds’.


5. APRA may, by notice in writing change the reporting periods for a particular
   registered superannuation entity to require it to provide the information:

    (a)   more frequently (APRA may require this when, having regard to the particular
          circumstances of the registered superannuation entity, APRA considers it
          necessary or desirable to obtain information more frequently for the purposes
          of the prudential supervision of the entity); or

    (b)   less frequently (APRA may do so when, having regard to the particular
          circumstances of the registered superannuation entity and the extent to which it
          requires prudential supervision, it is unnecessary to require it to provide the
          information).

6. In the case of the information required from a registered superannuation entity by
   paragraph 3, the information is required to be provided to APRA within 4 calendar
   months after the end of the financial year of the superannuation entity.


7. APRA may grant a registered superannuation entity an extension of a due date in
   writing in which case the new due date for the provision of the information will be the
   date on the notice of extension.

Audit
8. Information required from a registered superannuation entity in the version of Form
   SRF 240.0 designated for a ‘Registered Superannuation Entity’, is not required to be
   reviewed and tested by the auditor of the registered superannuation entity.



                                                      Reporting Standard SRS 240.0- 2
                                                                                  April 2003

Authorisation
9. The information provided by a registered superannuation entity in Form SRF 240.0
   must be subject to processes and controls developed by the registered superannuation
   entity for the internal review and authorisation of that information. It is the
   responsibility of the Trustee of the registered superannuation entity to ensure that an
   appropriate set of policies and procedures for the authorisation of data submitted to
   APRA is in place.

10. If a registered superannuation entity submits Form SRF 240.0 using the ‘Direct to
    APRA’ software, it will be necessary for the Trustee of the registered superannuation
    entity to digitally sign, authorise and encrypt the relevant data. For this purpose
    APRA’s certificate authority will issue ‘digital certificates’, for use with the software,
    to the Trustee of the registered superannuation entity who have authority to transmit
    the data to APRA.

11. If Form SRF 240.0 is completed and provided in paper form it must be signed by the
    Trustee of the registered superannuation entity who is authorised to complete and
    lodge the form.

Minor Alterations to Forms and Instructions
12. APRA may make minor variations to:

    (a)     Form SRF 240.0 and the instructions to that form, to correct technical,
            programming or logical errors, inconsistencies or anomalies; or

    (b)     the instructions, to clarify their application to the form

   without changing any substantive requirement in the form or instructions.

13. If APRA makes such a variation it must notify a registered superannuation entity in
    writing.




                                                         Reporting Standard SRS 240.0- 3

				
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