Insurance Act 1973

APRA may, by legislative instrument, make rules that are applicable to the operation of designated security trust funds.

An instrument under subsection (1) may make provision for or in relation to a matter by conferring a power on APRA.

An instrument under subsection (1) may make provision for or in relation to the following matters:

the making available to the public of copies of trust deeds for funds;

the keeping and retention of records in relation to funds;

the accounts, financial reports and actuarial reports to be prepared in relation to funds;

the auditing of accounts and financial reports prepared in relation to funds;

the disclosure of information about funds to APRA;

the inspection by APRA or an authorised person of records kept by funds;

the preparation, and lodgment with APRA, of returns in relation to funds;

the valuation of the assets of funds.

Subsections (2) and (3) do not, by implication, limit subsection (1).

Section 68 does not, by implication, limit this section.

The trustee of a designated security trust fund must comply with any rules in force under subsection (1).

A person who intentionally or recklessly contravenes subsection (8) commits an offence punishable on conviction by a fine not exceeding 200 penalty units.