23 September 2013
To all Registered Financial Corporations (RFCs)
On 19 April 2013, APRA released a discussion paper setting out proposed changes to the operation of Banking Exemption Order 96 that sets out conditions that RFCs must meet in order to obtain exemption from authorisation under the Banking Act 1959. On 24 June 2013, APRA wrote to RFCs to advise them of the decision to delay commencement of any changes to the Exemption Order until 1 October 2013.
To allow APRA an adequate opportunity to brief the new Government on its consultations on the RFC Exemption Order, the commencement of any changes to the Exemption Order will be deferred until 1 January 2014.
If you have questions in relation to this matter, please contact Jane O’Doherty, Senior Manager of ADI Policy, on (02) 9210 3175.
Executive General Manager,
Policy, Statistics and International