Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2016
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Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2016
I, Scott Morrison, Treasurer, make the following determination under paragraph 50(1)(a) and subsection 50(1A) of the Australian Prudential Regulation Authority Act 1998.
Dated: 28 June 2016
Scott Morrison
Treasurer
Contents
1 Name of determination
2 Commencement
3 Authority
4 Repeal
5 Definitions
6 Commonwealth costs
7 Proportion of levy money paid to APRA
1 Name of determination
This determination is the Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2016.
2 Commencement
This determination commences on 1 July 2016.
3 Authority
This determination is made under paragraph 50(1)(a) and subsection 50(1A) of the Australian Prudential Regulation Authority Act 1998.
4 Repeal
The Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2015 is repealed.
5 Definitions
In this determination:
2016‑2017 financial year means the financial year commencing on 1 July 2016.
Act means the Australian Prudential Regulation Authority Act 1998.
6 Commonwealth costs
For paragraph 50(1)(a) of the Act, the amount of levy money payable to the Commonwealth, in respect of levy for the 2016-2017 financial year, is $128 600 000.
7 Proportion of levy money paid to APRA
For subsection 50(1A) of the Act, the proportion of amounts of levy money paid to APRA for the 2016‑2017 financial year, on behalf of the Commonwealth, that is to be credited to the APRA Special Account on an ongoing basis is 48.7%.