{"id":"F2024L00793","name":"Australian Prudential Regulation Authority instrument fixing charges No. 2 of 2024","slug":"australian-prudential-regulation-authority-instrument-fixing-charges-no-2-of-2024","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":105283,"registerId":"commonwealth-F2024L00793-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Australian Prudential Regulation Authority instrument fixing charges No. 2 of 2024","content":"![Commonwealth Coat of Arms](image.001.png)\n\nAustralian Prudential Regulation Authority instrument fixing charges No. 2 of 2024\n\nModels-based capital adequacy requirements for ADIs for the financial year 2023-24\n\nAustralian Prudential Regulation Authority Act 1998\n\nI, Jane Elizabeth Magill, a delegate of APRA, under paragraph 51(1)(a) and (b) of the Australian Prudential Regulation Authority Act 1998 FIX the charges specified in the attached Schedule of charges in respect of the specified services provided by APRA.\n\nThis instrument commences on the date of registration on the Federal Register of Legislation under the Legislation Act 2003.\n\nDated: 25 June 2024\n\nJane Elizabeth Magill\n\nChief of Staff and Operations\n\nChief of Staff & Enterprise Services Division\n\nInterpretation\n\nIn this instrument\n\nADI is short for authorised deposit-taking institution and has the meaning given in section 5 of the Banking Act 1959.\n\nAPRA means the Australian Prudential Regulation Authority.\n\n \nSchedule of charges\n\n```html\n

Column 1

Nature of services and applications for which the charge is imposed

Column 2

Amount of the charge

Column 3

Person required to pay the charge

Column 4

When the charge is to be paid

Assessment of applications and the ongoing supervision of ADIs under the models-based approach.

$580,800

(inclusive of GST)

This charge is ­non-refundable.

  • Australia and New Zealand Banking Group Limited
  • Commonwealth Bank of Australia
  • National Australia Bank Limited
  • Westpac Banking Corporation

14 days after receipt of APRA’s invoice for the charge.

The invoice may be issued at any time after the date of this instrument.

$427,900

(inclusive of GST)

This charge is ­non-refundable.

  • Macquarie Bank Limited

$245,300

(inclusive of GST)

This charge is ­non-refundable.

  • ING Bank (Australia) Limited

$61,600

(inclusive of GST)

This charge is non-refundable.

  • Bendigo and Adelaide Bank Limited
\n```","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument performs exactly the function intended by section 51 of the APRA Act—fixing charges for specified services. It has not expanded beyond its original purpose."},"complexity_factors":["Only 2 defined terms in the interpretation section (ADI and APRA)","Single schedule with a straightforward 4-column table structure","No cross-references to other legislation beyond the enabling Act","No conditional logic or exceptions—just fixed dollar amounts per named entity","Extremely short document (approximately 1 page of substantive content)"],"plain_english_summary":"This is a fee-setting instrument issued by APRA (the Australian Prudential Regulation Authority) that charges specific banks for using advanced mathematical models to calculate their capital requirements.\n\n**What it does:**\n- Sets fees for banks that use the \"models-based approach\" to work out how much capital they must hold as a buffer against financial risks\n- This approach lets sophisticated banks use their own internal risk models rather than standard formulas\n\n**Who pays what:**\n- **Big 4 banks** (ANZ, Commonwealth Bank, NAB, Westpac): **$580,800 each**\n- **Macquarie Bank**: **$427,900**\n- **ING Bank**: **$245,300**\n- **Bendigo and Adelaide Bank**: **$61,600**\n\nAll fees include GST and are non-refundable.\n\n**Why it matters:**\nThese charges recover APRA's costs for assessing applications and supervising banks that use complex internal models. The tiered pricing reflects the complexity and resources required to supervise each institution. Banks must pay within 14 days of receiving an invoice."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument does not alter APRA’s regulatory scope or the substantive models‑based capital requirements. It sets fees for services already within APRA’s supervisory remit by fixing specified charges for named ADIs, the timing and GST treatment of payments, and the commencement date (para 51(1)(a)-(b); Schedule)."},"complexity_factors":["Legal basis is straightforward: delegate exercise of paragraph 51(1)(a) and (b) of the APRA Act (instrument preamble).","Different fixed dollar amounts for multiple named ADIs (Schedule) increases administrative detail but not legal complexity.","Payment mechanics are simple: non‑refundable, GST‑inclusive, payable 14 days after APRA invoice (Schedule, Column 4).","Temporal limitation to the 2023–24 financial year and to the models‑based approach narrows scope but requires correct application period.","Instrument is procedural/financial — no new regulatory powers or regulatory tests to interpret; low discretionary content.","Presentation in a detailed schedule (HTML table) requires careful reading to match amounts to entities."],"plain_english_summary":"This instrument fixes the fees APRA will charge specified authorised deposit‑taking institutions (ADIs) for assessment and ongoing supervision under the models‑based capital adequacy approach for the 2023–24 year. It names the affected ADIs, sets each ADI’s non‑refundable GST‑inclusive charge, and requires payment within 14 days of APRA’s invoice. The instrument is made under paragraph 51(1)(a) and (b) of the APRA Act and commences on registration."}},"importantCases":[],"_links":{"self":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-2-of-2024","history":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-2-of-2024/history","analysis":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-2-of-2024/analysis","conflicts":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-2-of-2024/conflicts","importantCases":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-2-of-2024/important-cases","documents":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-2-of-2024/documents"}}