{"id":"F2018L00755","name":"Australian Prudential Regulation Authority Instrument fixing charges No. 3 of 2018","slug":"australian-prudential-regulation-authority-instrument-fixing-charges-no-3-of-2018","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":97349,"registerId":"commonwealth-F2018L00755-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Australian Prudential Regulation Authority Instrument fixing charges No. 3 of 2018","content":"![](image.001.png)\n\nAustralian Prudential Regulation Authority Instrument fixing charges No. 3 of 2018\n\nFor applications for authorisation or registration as an Authorised Deposit-taking institution (ADI), General Insurer or Life Company.\n\nAustralian Prudential Regulation Authority Act 1998\n\nI, Stephen Matthews, a delegate of APRA\n\n(i) under paragraph 51(1)(b) of the Australian Prudential Regulation Authority Act 1998 (the Act) and subsection 33(3) of the Acts Interpretation Act 1901 REVOKE Instrument Fixing Charges No. 1 of 2013 dated 8 March 2013.\n\n(ii) under paragraph 51(1)(b) of the Act, FIX the charges specified in the attached Schedule.\n\nThis Instrument commences on the date of registration on the Federal Register of Legislative Instruments under the Legislation Act 2003.\n\n    Dated: 7 June 2018\n\n\\[Signed\\]\n\nStephen Matthews\n\nExecutive General Manager (Corporate Services)\n\nInterpretation in this Instrument\n\nIn this Instrument\n\nADI is short for Authorised Deposit-taking institution and has the meaning given in sub\\-Section 5(1) of the Banking Act 1959.\n\nAPRA means the Australian Prudential Regulation Authority.\n\nfriendly society has the meaning given in Section 16C of the Life Insurance Act 1995 (the Life Act).\n\ngeneral insurer has the meaning given in Section 3 of the Insurance Act 1973.\n\nlife company has the meaning given in the Dictionary in the Schedule of the Life Act.\n\n  \nSchedule of charges  \n\n| Item | Application for which the charge is imposed                                                                                                                                                                                                                    | Amount of charge(GST exempt) | Person required to pay the charge | When the charge is to be paid   |\n| ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------- | --------------------------------- | ------------------------------- |\n| 1    | Application for authorisation as an ADI under Section 9 of the Banking Act 1959 – where the applicant applies to be authorised to carry on business as a bank.                                                                                                 | $110,000                     | Applicant                         | On lodgement of the application |\n| 2    | Application for authorisation as an ADI under Section 9 of the Banking Act 1959 – where the applicant applies to be authorised to carry on business as a building society or credit union.                                                                     | $110,000                     | Applicant                         | On lodgement of the application |\n| 3    | Application for authorisation as an ADI under Section 9 of the Banking Act 1959 – where the applicant applies to be authorised as a provider of purchased payment facilities.                                                                                  | $55,000                      | Applicant                         | On lodgement of the application |\n| 4    | Applications for authorisation as an ADI under Section 9 of the Banking Act 1959 – in any case that is not covered by item 1, 2 or 3.                                                                                                                          | $110,000                     | Applicant                         | On lodgement of the application |\n| 5    | Application for authorisation as a general insurer under Section 12 of the Insurance Act 1973.                                                                                                                                                                 | $110,000                     | Applicant                         | On lodgement of the application |\n| 6    | Application for registration as a life company under Section 21 of the Life Insurance Act 1995 – in every case other than a case covered by item 7.                                                                                                            | $110,000                     | Applicant                         | On lodgement of the application |\n| 7    | Application for registration as a life company under Section 21 of the Life Insurance Act 1995 – where the applicant applies to be registered as a life company subject to a determination under sub-Section 16C(2) of that Act that it is a friendly society. | $110,000                     | Applicant                         | On lodgement of the application |\n\nIn relation to the Schedule of charges above:\n\n(a) Each of the charges are GST exempt (see Note 1 below);\n\n(b) Subject to paragraph (c) below, APRA may waive or refund, in whole or in part, any application charge set out in the Schedule of charges if APRA is satisfied that special circumstances apply which would make it unjust or oppressive to impose a part of the charge, or the full amount of the charge. An example of a case where a waiver or refund may be justified is where an applicant applies for the wrong kind of authorisation by mistake, and withdraws the application before APRA has done any substantial amount of work considering the application;\n\n(c) No refund or waiver will be made if the application is unsuccessful or if APRA, in the course of processing the application, informs the applicant that the application will be unsuccessful (see Note 2 below) or if the application is withdrawn or not proceeded with by the applicant; and\n\n(d) An applicant seeking a refund or waiver of an application charge must apply in writing to APRA setting out details of the special circumstances that apply.\n\nNote 1: As per Division 81 of A New Tax System (Goods and Services Tax) Act 1999.\n\nNote 2: For the avoidance of doubt, it should be noted that the charge is payable in respect of every new application, even one that is made after the refusal or withdrawal of an earlier application for which the applicant also paid a fee.","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":true,"description":"This instrument expressly revokes Instrument Fixing Charges No. 1 of 2013 and replaces it with a defined fee schedule and refund/waiver rules for applications for authorisation or registration as ADIs, general insurers or life companies. It therefore resets the operative charging framework (who pays, amounts, timing and GST treatment) for those application types."},"complexity_factors":["Fixed fee schedule with seven distinct application categories (Schedule items 1–7).","Large, round-dollar fees ($110,000 and $55,000) create clear but substantial upfront cost for market entry.","Payment timing: fees are payable on lodgement (creates immediate cash compliance burden).","Waiver/refund regime is discretionary but constrained: clauses (b)–(d) allow APRA to waive/refund for 'special circumstances' only, require written application, and bar refunds if an application is unsuccessful or withdrawn during processing.","GST-exempt status explicitly recorded (Note 1), so amounts are not subject to GST.","Instrument revokes the prior Instrument Fixing Charges No. 1 of 2013 (text at top), replacing the earlier fee instrument.","Interpretive links to other statutes (Banking Act 1959, Insurance Act 1973, Life Insurance Act 1995) mean users must read cross-referenced definitions to determine application scope."],"plain_english_summary":"This Instrument revokes an earlier fees instrument and fixes specific, GST-exempt application fees that APRA will charge applicants seeking authorisation or registration as ADIs, general insurers or life companies. The schedule names the applicant as payer and requires payment on lodgement. APRA may, in limited circumstances and on written application, waive or refund fees, but will not refund fees where an application is unsuccessful or withdrawn during processing."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument performs exactly the function its title suggests: fixing charges for APRA applications. It replaces a 2013 instrument with updated fees but does not expand beyond the original purpose of setting application fees for financial institution authorisations."},"complexity_factors":["Short, single-purpose document (fee schedule only)","Only 4 defined terms (ADI, APRA, friendly society, general insurer, life company)","Simple tabular structure with 7 fee items","Minimal conditional logic (only paragraph (c) creates a limited exception to the waiver power)","No cross-references to other legislation beyond standard definitions and commencement provisions","Straightforward administrative instrument under APRA Act powers"],"plain_english_summary":"This instrument sets the application fees APRA charges for firms seeking licences to operate in Australia’s prudentially regulated financial sector—typically $110,000 for banks, insurers and similar entities and $55,000 for purchased payment facility providers. Fees are GST-exempt, payable on lodgement, and generally non-refundable unless APRA waives or refunds in limited circumstances. It affects any company applying for an ADI, insurer, friendly society or payment-provider licence and underscores the substantial upfront cost and entry barrier to entering Australia’s regulated financial market."},"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"}},"importantCases":[],"_links":{"self":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-3-of-2018","history":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-3-of-2018/history","analysis":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-3-of-2018/analysis","conflicts":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-3-of-2018/conflicts","importantCases":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-3-of-2018/important-cases","documents":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-3-of-2018/documents"}}