7. Where an APRA-regulated entity has pre-existing contractual arrangements in place with a service provider, the requirements in this Prudential Standard will apply in relation to those arrangements from the earlier of the next renewal date of the contract with the service provider or 1 July 202...
The standard has three overarching objectives: 'Strengthen operational risk management through new requirements to address identified weaknesses in existing controls'; improve business continuity planning to ensure they are positioned to respond to severe disruptions; and enhance third-party risk management b...