Financial Accountability Regime (Consequential Amendments) Transitional Rules 2024

An ADI which is subject to the BEAR and which becomes an accountable entity under the Act at the banking start time must provide the Regulator with the information in subsection (2) by providing it as specified in subsection (3), within 30 days after the banking start time.

For the purposes of subsection (1), the following information must be provided in respect of each person who is, immediately prior to the banking start time, an accountable person for the purposes of the BEAR and who, at the banking start time, becomes an accountable person of the accountable entity or a significant related entity of the accountable entity (as applicable) under the Act:

director identification number (if applicable, and subject to section 1270N of the Corporations Act 2001);

direct phone number;

direct email address;

start date of the position title (role title);

start date of employment with the employer

position title of the person the accountable person reports to;

the date the accountable person started to report to the person referred to at paragraph 6(2)(f);

details of each General or Prescribed Responsibility or Position that causes the person to be an accountable person;

key functions—each ADI Key Function (if any) of the accountable person; and

the date the accountable person assumed responsibility for each ADI Key Function referred to in paragraph 6(2)(i) (if applicable).

The information in subsection (2) must be provided by completing and submitting the electronic notification form which is made available by APRA in APRA Connect for this purpose.