Australian Prudential Regulation Authority (Standing Acting Arrangements) Amendment Appointment 2022

I, Dr James Edward Chalmers, Treasurer, make the following appointment.

Dated   9 June 2022

Dr James Edward Chalmers

Treasurer

Contents

1  Name 

2  Commencement

3  Authority

4  Schedules

Schedule 1—Amendments

Australian Prudential Regulation Authority (Standing Acting Arrangements) Appointment 2021

1  Name

  This instrument is the Australian Prudential Regulation Authority (Standing Acting Arrangements) Amendment Appointment 2022.

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.

Note: This table relates only to the provisions of this instrument as originally made.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  Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1—Amendments

Australian Prudential Regulation Authority (Standing Acting Arrangements) Appointment 2021

1  After section 6

Insert:

7  Standing acting arrangements for Deputy Chair of the APRA

 (1) Under subsection 19(3) of the Act, during all periods when a Deputy Chair is absent from duty or from Australia, acting as Chair, 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 Deputy Chair.

 (2) For the purposes of this instrument, the next 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, not acting as Chair under section 6, and is highest in the following list:

 (a) Margaret Cole.

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

 (4) However, if a person who is acting as Deputy Chair during a period (under subsection (3) or a previous application of this subsection) ceases at a particular time to be the next available appointee, the next available appointee at that time is to act as Deputy 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 Deputy Chair under sections 22 and 23 of the Act.