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Financial Regulator Assessment Authority Act 2021
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Administered by
Department of the Treasury
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C2025C00660 C03
05 December 2025
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Part 1—Preliminary
1 Short title
2 Commencement
3 Object of this Act
4 Simplified outline of this Act
5 Definitions
6 Act binds the Crown
7 Act extends to things outside Australia
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Part 2—Establishment, functions and cooperation
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Division 1—Simplified outline of this Part
8 Simplified outline of this Part
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Division 2—Authority
9 Establishment
10 Membership
11 Authority is part of the Department for certain purposes
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Division 3—Functions
12 Functions
13 Timing and requests relating to the 5-yearly assessment and reporting functions
14 Requests relating to the ad hoc assessment and reporting function
15 Assessments and reviews undertaken by others
16 Reports to be given to APRA or ASIC
17 5-yearly reports must be tabled
18 Powers
19 Independence
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Division 4—Cooperation with Authority
20 Cooperation with Authority
21 Legal professional privilege
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Part 3—Members, staff and consultants
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Division 1—Simplified outline of this Part
22 Simplified outline of this Part
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Division 3—Members
24 Appointment
25 Period of appointment
26 Acting appointments
27 Remuneration
28 Leave
29 Terms and conditions
30 Other paid work
31 Disclosure of interests
32 Resignation
33 Termination of appointment
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Division 4—Decision-making by Authority
34 Meetings of Authority
35 Decisions without meetings
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Division 5—Staff and consultants
36 Arrangements relating to the staff of the Department
37 Consultants
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Part 4—Information management
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Division 1—Simplified outline of this Part
38 Simplified outline of this Part
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Division 2—Inclusion of information in reports
39 Protected information not to be included in reports
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Division 3—Secrecy
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Subdivision A—Unauthorised use or disclosure of protected information
40 Unauthorised use or disclosure of protected information
41 Limit on disclosure to courts and tribunals
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Subdivision B—Authorised use or disclosure of protected information
42 Authorisation to use or disclose protected information for the purposes of functions, duties and powers
43 Authorisation to disclose protected information to the Secretary, APRA and ASIC
44 Authorisation to use or disclose protected information for purposes of enforcement related activity
45 Authorisation to use or disclose protected information in the public interest
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Part 5—Miscellaneous
46 Simplified outline of this Part
47 Protection from liability
48 Delegation by Minister
49 Delegation by Authority
50 Delegation by Secretary
51 Rules
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Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
