You will require this registration if you operate a financial corporation.
A financial corporation is one:
- whose total assets exceed $5 million
- whose sole or principal business in Australia is borrowing money and provision of finance
- whose assets arising from the provision of finance exceed 50 per cent of its total assets in Australia.
The Act does not apply to authorised deposit taking institutions such as:
- building societies
- credit unions.
Please note there are a variety of reporting standards that financial corporations, such as registrable superannuation entities, are required to comply with when providing financial information to the Agency, such as:
- statements of financial performance
- statements of financial position
- information relating to the asset allocation and investment flows
- information relating to accrued default amounts.
Please consult the Contact Officer for more information.