APRA Standards APS 510 and APS 520 will apply to APRA-regulated entities from 1 October 2006.

A fit and proper assessment must be completed for each responsible person by 28 October 2006 . (APS 520.25)

The entity must, by 28 October 2006, notify APRA of the following information for each responsible person:
(a) the person’s full name;
(b) the person’s date of birth (for identification purposes only);
(c) the person’s position and main responsibilities; and
(d) a statement of whether the person has been assessed under the Fit and Proper Policy.
(APS 520.40)

APRA has issued 2 new interim forms: a notification of responsible persons and a notification of changes to responsible persons.

For a summary of the first decision reviewing APRA’s disqualification of a person on the grounds of not being fit and proper read  When is a director fit and proper?