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Australian Prudential Regulation Authority Act 1998
54GCredits to the Collapsed Insurer Special Account
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54G Credits to the Collapsed Insurer Special Account
There must be credited to the Collapsed Insurer Special Account amounts equal to amounts received by APRA, under Part 3B of the Financial Institutions Supervisory Levies Collection Act 1998, by way of:
(a) collapsed insurer levy; or
(b) late payment penalty in respect of unpaid amounts of collapsed insurer levy.
Note: An Appropriation Act may contain a provision to the effect that, if any of the purposes of a special account is a purpose that is covered by an item in the Appropriation Act (whether or not the item expressly refers to the special account), then amounts may be debited against the appropriation for that item and credited to that special account.