Federal Register of Legislation - Australian Government

Primary content

Regulations as made
These regulations repeal and replace the Australian Prudential Regulation Authority Regulations 1998 which are due to sunset on 1 April 2019.
Administered by: Treasury
Registered 07 Dec 2018
Tabling HistoryDate
Tabled HR12-Feb-2019
Tabled Senate12-Feb-2019
Table of contents.

 

Australian Prudential Regulation Authority Regulations 2018

I, the Honourable Paul de Jersey AC, Administrator of the Government of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.

Dated 06 December 2018

Paul de Jersey AC

Administrator of the Government of the Commonwealth of Australia

By His Excellency’s Command

Stuart Robert

Assistant Treasurer

 

  

  

  


Contents

1............ Name............................................................................................................................. 1

2............ Commencement............................................................................................................. 1

3............ Authority....................................................................................................................... 1

4............ Schedules...................................................................................................................... 1

5............ Definitions..................................................................................................................... 1

6............ Cooperation with other agencies.................................................................................... 1

7............ Liability to fringe benefits taxation................................................................................ 2

8............ Prescription of prudential regulation framework laws................................................... 2

9............ Secrecy—disclosure of protected information or production of protected document to specified agencies              2

Schedule 1—Repeals                                                                                                                                       4

Australian Prudential Regulation Authority Regulations 1998                                                  4

 


1  Name

                   This instrument is the Australian Prudential Regulation Authority Regulations 2018.

2  Commencement

             (1)  Each provision of instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this instrument

The day after this instrument is registered.

8 December 2018

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under the Australian Prudential Regulation Authority Act 1998.

4  Schedules

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

5  Definitions

                   In this instrument:

Act means the Australian Prudential Regulation Authority Act 1998.

6  Cooperation with other agencies

                   For the purposes of subsection 10A(1) of the Act, the following agencies are specified:

                     (a)  the Australian Bureau of Statistics;

                     (b)  the Australian Crime Commission;

                     (c)  the Australian Federal Police;

                     (d)  the Australian Securities and Investments Commission;

                     (e)  the Australian Transaction Reports and Analysis Centre (AUSTRAC);

                     (f)  the Commissioner of Taxation;

                     (g)  the Department administered by the Minister administering the Private Health Insurance Act 2007;

                     (h)  the Department of Treasury;

                     (i)   the Financial Reporting Council mentioned in section 225 of the Australian Securities and Investments Commission Act 2001;

                     (j)   the Police Force of a State or Territory;

                     (k)  the Reserve Bank of Australia.

7  Liability to fringe benefits taxation

                   For the purposes of subsection 55(2) of the Act, subsection 55(1) of the Act does not apply in relation to the Fringe Benefits Tax Assessment Act 1986.

8  Prescription of prudential regulation framework laws

                   For the purposes of paragraph (o) of the definition of prudential regulation framework law in subsection 3(1) of the Act, the Royal Commissions Act 1902 is prescribed for the purposes of section 56 of the Act.

9  Secrecy—disclosure of protected information or production of protected document to specified agencies

                   For the purposes of paragraph 56(5)(a) of the Act, the following agencies are specified:

                     (a)  the Australian Bureau of Statistics;

                     (b)  the Australian Competition and Consumer Commission;

                     (c) the Australian Crime Commission;

                     (d)  the Australian Federal Police;

                     (e)  the Australian Financial Complaints Authority;

                     (f)  the Australian Securities and Investments Commission;

                     (g)  the Australian Transaction Reports and Analysis Centre (AUSTRAC);

                     (h)  the Bank for International Settlements;

                     (i)   the Basel Committee on Banking Supervision;

                     (j)   the Commissioner of Taxation;

                     (k)  the Department administered by the Minister administering the Agricultural and Veterinary Chemicals Act 1994;

                     (l)   the Department administered by the Minister administering the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006;

                     (m) the Department administered by the Minister administering the Private Health Insurance Act 2007;

                     (n)  the Department of the Treasury;

                     (o)  the Financial Reporting Council mentioned in section 225 of the Australian Securities and Investments Commission Act 2001;

                     (p)  the Financial Stability Board;

                     (q)  the International Monetary Fund;

                     (r)   the Police Force of a State or Territory;

                     (s)  the Private Health Insurance Ombudsman;

                     (t)   the Reserve Bank of Australia;

                     (u)  the Superannuation Complaints Tribunal;

                     (v)  the Treasury of New Zealand;

                     (w) the World Bank Group.


Schedule 1Repeals

  

Australian Prudential Regulation Authority Regulations 1998

1  The whole of the instrument

Repeal the instrument.