Federal Register of Legislation - Australian Government

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This instrument updates the standing acting arrangements for the Australian Prudential Regulation Authority.
Administered by: Treasury
Registered 28 Sep 2021

 

Australian Prudential Regulation Authority (Standing Acting Arrangements) Appointment 2021

I, Josh Frydenberg, Treasurer, make the following appointments.

Dated               27 September 2021

 

Josh Frydenberg

Treasurer

 

  

  

  


Contents

Part 1—Preliminary                                                                                                      1

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

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

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

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

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

Part 2—Standing acting arrangements for APRA                                                    2

6  Standing acting arrangements for Chair of the APRA.............................................................. 2

Schedule 1—Repeals                                                                                                     3

Australian Prudential Regulation Authority (Standing Acting Arrangements for Chair) Appointment 2018             3

 


Part 1Preliminary

  

1  Name

                   This instrument is the Australian Prudential Regulation Authority (Standing Acting Arrangements) Appointment 2021.

2  Commencement

             (1)  Each provision of this 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 the instrument

The day after this instrument is registered.

 

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

Note:       Paragraph 13(1)(b) of the Legislation Act 2003 has the effect that expressions have the same meaning in this instrument as in the Australian Prudential Regulation Authority Act 1998 as in force from time to time.

                   In this instrument:

senior available appointee has the meaning given by subsection 6(2).

the Act means the Australian Prudential Regulation Authority Act 1998.


Part 2Standing acting arrangements for APRA

  

6  Standing acting arrangements for Chair of the APRA

             (1)  Under subsection 19(2) of the Act, during all periods when the Chair is absent from duty or from Australia, or is, for any reason, unable to perform the functions of his or her office, the person determined in accordance with subsections (2), (3) and (4) is appointed to act as Chair.

             (2)  For the purposes of this instrument, the senior available appointee at a particular time is the person who, at that time, is an APRA member, is not absent from duty or from Australia and is highest in the following list:

                     (a)  Helen Rowell;

                     (b)  John Lonsdale;

                     (c)  Margaret Cole.

             (3)  The senior available appointee at the start of a period when the Chair is absent from duty or from Australia, or is, for any reason, unable to perform the functions of his or her office, is to act as Chair during that period.

             (4)  However, if a person who is acting as Chair during a period (under subsection (3) or a previous application of this subsection) ceases at a particular time to be the senior available appointee, the senior available appointee at that time is to act as Chair during the remainder of that period.

             (5)  Under subsection 33A(1) of the Acts Interpretation Act 1901, each appointment under subsection (1) is determined to be on the same terms and conditions that apply to the Chair under sections 22 and 23 of the Act.