Reference
The AI and regulation glossary.
The Australian regulatory terms that decide how AI can be used at work, explained in plain English. Each entry leads with a short definition, then the detail a practitioner actually needs, with primary sources.
AML/CTF regime (AML/CTF)
The AML/CTF regime is Australia's legal framework for stopping money laundering and terrorism financing. Under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, regulated businesses must enrol with AUSTRAC, run an AML/CTF program, verify customers, and report suspicious and high-value transactions.
Read the full definition →APRA CPS 230 (CPS 230)
CPS 230 is APRA's Prudential Standard on Operational Risk Management. Effective 1 July 2025, it requires banks, insurers and superannuation trustees to manage operational risk, maintain critical operations through severe disruptions, and oversee material service providers, including the AI vendors and AI-enabled services they rely on.
Read the full definition →APRA CPS 234 (CPS 234)
CPS 234 is APRA Prudential Standard CPS 234 Information Security. Effective 1 July 2019, it requires APRA-regulated entities such as banks, insurers and super funds to maintain information security capability matched to threats, clearly assign roles, test controls, and notify APRA of material incidents within 72 hours.
Read the full definition →Administrative Review Tribunal (ART)
The Administrative Review Tribunal (ART) is the Commonwealth body that conducts independent merits review of Australian Government decisions. It commenced on 14 October 2024 under the Administrative Review Tribunal Act 2024 (Cth), replacing the Administrative Appeals Tribunal. For workers compensation, it reviews Comcare reviewable decisions after reconsideration.
Read the full definition →Design and Distribution Obligations (DDO)
The Design and Distribution Obligations (DDO) are rules in Part 7.8A of the Corporations Act 2001 (Cth), in force from 5 October 2021 and administered by ASIC. They require issuers and distributors of financial products to make a target market determination, distribute consistently with it, and review it over time.
Read the full definition →Financial Accountability Regime (FAR)
The Financial Accountability Regime (FAR) is an Australian accountability framework for banking, insurance, and superannuation entities, jointly administered by APRA and ASIC under the Financial Accountability Regime Act 2023. It places personal obligations on named senior executives, called accountable persons, for the parts of the business they run.
Read the full definition →Safety, Rehabilitation and Compensation Act 1988 (SRC Act)
The Safety, Rehabilitation and Compensation Act 1988 (SRC Act) is the Commonwealth law that runs Australia's federal workers compensation scheme, administered by Comcare and licensed self-insurers. It sets liability for injury, the reasonable administrative action exclusion, disease provisions, rehabilitation, and compensation for incapacity.
Read the full definition →General information and education only. Not legal, compliance, financial, or professional advice. Always confirm obligations against the primary source and current regulator guidance.