{"id":"F2019L01140","name":"Australian Prudential Regulation Authority instrument fixing charges No. 5 of 2019","slug":"australian-prudential-regulation-authority-instrument-fixing-charges-no-5-of-2019","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":99745,"registerId":"commonwealth-F2019L01140-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. 5 of 2019","content":"![](image.001.png)\n\nAustralian Prudential Regulation Authority instrument fixing charges No. 5 of 2019\n\nInternal Models-Based (IMB) Method for general insurers\n\nAustralian Prudential Regulation Authority Act 1998\n\nI, Stephen Brian Matthews, a delegate of APRA, under paragraphs 51(1)(a) and (b) of the Australian Prudential Regulation Authority Act 1998 and under subsection 33(3) of the Acts Interpretation Act 1901:\n\n(a) revoke Australian Prudential Regulation Authority instrument fixing charges No. 1 of 2009, including the Schedule – Charges for services and applications made under that Instrument; and\n\n(b) fix the charges specified in the attached Schedule of charges in respect of specified services provided by APRA.\n\nThis instrument commences upon registration on the Federal Register of Legislation.\n\n Dated: 30 August 2019\n\n\\[Signed\\]\n\nStephen Brian Matthews\n\nExecutive General Manager\n\nInterpretation\n\n> In this instrument\n\n> APRA means the Australian Prudential Regulation Authority.\n\n> general insurer has the meaning given in subsection 3(1) of the Insurance Act 1973.\n\nSchedule – Charges for services and applications\n\n```html\n

Column 1

Nature of Services and Applications

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 from general insurers seeking approval to use the IMB Method for general insurers.

$440,000 (inclusive of GST) where the general insurer is the first general insurer within an insurance group to seek approval to use the IMB Method.

This charge is non-refundable.

A general insurer seeking approval to use the IMB Method.

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

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

$165,000 (inclusive of GST) where the general insurer is not the first general within an insurance group insurer to seek approval to use the IMB Method.

This charge is non-refundable.

\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":"The instrument maintains its original narrow purpose of setting fees for IMB Method applications. It simply updates the dollar amounts from the 2009 version and clarifies the distinction between first and subsequent applicants within an insurance group. The scope has not expanded beyond cost recovery for this specific regulatory service."},"complexity_factors":["Only 2 defined terms in the interpretation section ('APRA' and 'general insurer')","Single-purpose instrument: only sets fees for one specific service","No cross-references to other legislation beyond the empowering Acts","Simple tabular structure with 4 columns covering service, amount, payer, and timing","Only two conditional fee variations (first vs. subsequent applicant in a group)","No nested exceptions or complex conditional logic"],"plain_english_summary":"This instrument sets APRA’s fees for general insurers applying to use the Internal Models‑Based (IMB) Method: $440,000 (incl. GST) for the first insurer in a corporate group and $165,000 for each subsequent group member. Insurers seeking IMB approval must pay within 14 days of invoice; fees are non‑refundable. It cost‑recovers APRA’s review of complex internal risk models."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"This instrument replaces Australian Prudential Regulation Authority instrument fixing charges No. 1 of 2009 and newly fixes the specific charges and payment terms for APRA’s assessment of IMB Method approval applications by general insurers: two non‑refundable fee levels ($440,000 or $165,000), GST inclusive, payable by the applying insurer within 14 days of APRA’s invoice."},"complexity_factors":["Two-tier fee structure depending on whether the insurer is the first in its insurance group to seek IMB approval","Fees stated inclusive of GST and explicitly non-refundable","Invoice timing: APRA may issue invoice any time after commencement, with 14‑day payment term","Revocation of an earlier instrument (No. 1 of 2009) and replacement by this schedule","Statutory authority references (APRA Act paragraph 51(1)(a) and (b); Acts Interpretation Act s33(3))","Defined term reliance: 'general insurer' as defined by the Insurance Act 1973"],"plain_english_summary":"This instrument revokes a prior APRA fees instrument and fixes specific application charges for APRA’s assessment of general insurers seeking approval to use the Internal Models‑Based (IMB) Method. \n\nThe applying general insurer must pay a non‑refundable fee: $440,000 (GST inclusive) if it is the first insurer in its insurance group to seek approval, otherwise $165,000. APRA may issue an invoice any time after commencement; payment is due 14 days after receipt."}},"importantCases":[],"_links":{"self":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-5-of-2019","history":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-5-of-2019/history","analysis":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-5-of-2019/analysis","conflicts":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-5-of-2019/conflicts","importantCases":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-5-of-2019/important-cases","documents":"/api/acts/australian-prudential-regulation-authority-instrument-fixing-charges-no-5-of-2019/documents"}}