Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This Division applies if a financial sector entity is required to appoint an auditor under reporting standards that relate to the collection of information that APRA requires:
(a) to perform APRA's functions under:
(i) Division 2AA of Part II of the Banking Act 1959 ; or
(ii) Part VC of the Insurance Act 1973 ; or
(b) to assist a financial sector agency to perform its functions or exercise its powers.
(2) Also, this Division applies if a financial sector entity is required to appoint an auditor under reporting standards that APRA issued on the direction of the Minister.