Federal Register of Legislation - Australian Government

Primary content

This instrument delegates specified functions and powers under the Financial Regulator Assessment Authority Act 2021.
Administered by: Treasury
Registered 11 Oct 2021
Table of contents.

 

Financial Regulator Assessment Authority (Consultation and Cooperation with APRA and ASIC) Delegations 2021

The Financial Regulator Assessment Authority, under section 49 of the Financial Regulator Assessment Authority Act 2021, makes the following delegations.

Dated               3 October 2021

 

Nicholas Moore

Chair of the Financial Regulator Assessment Authority
For and on behalf of the Financial Regulator Assessment Authority

 

  

  

  


Contents

Part 1—Preliminary                                                                                                      1

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

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

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

4  Definitions................................................................................................................................ 1

Part 2—Delegations                                                                                                       2

5  Delegations relating to reports.................................................................................................. 2

6  Delegations relating to cooperation with the Authority............................................................. 2

 


Part 1Preliminary

  

1  Name

                   This instrument is the Financial Regulator Assessment Authority (Consultation and Cooperation with APRA and ASIC) Delegations 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 this 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 Financial Regulator Assessment Authority Act 2021.

4  Definitions

Note:       Expressions have the same meaning in this instrument as in the Financial Regulator Assessment Authority Act 2021 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.

             (1)  In this instrument:

EL2 employee means an APS employee who has been allocated an Executive Level 2 classification.

the Act means the Financial Regulator Assessment Authority Act 2021.

the Treasury means the Department of the Treasury.


Part 2Delegations

  

5  Delegations relating to reports

Members of the Authority

             (1)  Under subsection 49(1) the Act, each member of the Authority, is delegated the Authority’s functions and powers under subsections 16(1), 16(3) and 39(2) of the Act.

Note 1:       Subsections 16(1) and (3) of the Act relate to reports to be given to APRA or ASIC.

Note 2:       Subsection 39(2) of the Act relates to protected information which is not to be included in reports.

Staff members

             (2)  Under subsection 49(1) the Act, each person holding, occupying or performing the duties of each of the following offices or positions in the Treasury, whose services are being made available to assist the Authority in connection with the performance or exercise of the Authority’s functions or powers, is delegated the Authority’s functions and powers under subsections 16(1), 16(3) and 39(2) of the Act:

                     (a)  a Deputy Secretary;

                     (b)  an SES employee;

                     (c)  an APS employee who has been allocated either an APS Level or an Executive Level classification.

6  Delegations relating to cooperation with the Authority

Members of the Authority

             (1)  Under subsection 49(2) the Act, each member of the Authority, is delegated the Authority’s functions and powers under subsection 20(2) of the Act.

Note:          Subsection 20(2) of the Act relates to cooperation with the Authority.

Staff members

             (2)  Under subsection 49(2) the Act, each person holding, occupying or performing the duties of each of the following offices or positions in the Treasury, whose services are being made available to assist the Authority in connection with the performance or exercise of the Authority’s functions or powers, is delegated the Authority’s functions and powers under subsection 20(2) of the Act:

                     (a)  a Deputy Secretary;

                     (b)  an SES employee;

                     (c)  an EL2 employee.