Australian Prudential Regulation Authority instrument fixing charges No. 1 of 2019
1Australian Prudential Regulation Authority instrument fixing charges No. 1 of 2019
Start here
Get a plain-English read of 1
Turn the raw legal text into a practical explanation grounded in Australian Prudential Regulation Authority instrument fixing charges No. 1 of 2019.
Image unavailable in extracted text
Australian Prudential Regulation Authority instrument fixing charges No. 1 of 2019
Charges to be paid in relation to: friendly society rules and rule amendment applications; applications for authorisation as a Private Health Insurer; transfer of business applications and applications to hold a Restricted Authorised Deposit-taking Institution (ADI) licence and progression to an ADI.
Australian Prudential Regulation Authority Act 1998
I, Stephen Matthews, a delegate of APRA:
(a) 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 Australian Prudential Regulation Authority Instrument fixing charges No. 5 of 2018 dated 7 June 2018; and
(b) under paragraph 51(1)(b) of the Act fix the charges specified in the attached Schedule.
This instrument commences on the date of registration on the Federal Register of Legislation.
Dated: 27 February 2019
[Signed]
……………………………………
Stephen Matthews
Executive General Manager
Interpretation
ADI is short for authorised deposit-taking institution and has the meaning given in subsection 5(1) of the Banking Act 1959.
APRA means the Australian Prudential Regulation Authority.
friendly society has the meaning given in Section 16C of the Life Insurance Act 1995 (the Life Act).
GI is short for general insurer and has the meaning given in Section 3 of the Insurance Act 1973.
LI is short for life company and has the meaning given in the Dictionary in the Schedule of the Life Act
private health insurer has the meaning given in the Dictionary in Schedule 1 of the Private Health Insurance Act 2007.
Note: Schedule of charges
| 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 |
|---|---|---|---|---|
| 1 | Applications for approval of friendly society rules and rule amendments under sections 16L & 16Q of the Life Insurance Act 1995 (respectively). | $3,000 | Applicant | On lodgement of the application |