CTHIn ForceAct
Financial Regulator Assessment Authority Act 2021
8Simplified outline of this Part
Start here
Get a plain-English read of 8
Turn the raw legal text into a practical explanation grounded in Financial Regulator Assessment Authority Act 2021.
8 Simplified outline of this Part
The Financial Regulator Assessment Authority is established.
The Authority’s functions include:
(a) once every 5 financial years, assessing the effectiveness and capability of each of APRA and ASIC and reporting to the Minister; and
(b) when requested by the Minister, undertaking assessments on any matter relating to APRA’s, or ASIC’s, effectiveness and capability.
APRA and ASIC and their members and staff are required to cooperate with and provide information to the Authority.