Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2007 (Cth)

Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2007

Australian Prudential Regulation Authority Act 1998

I, PETER CRAIG DUTTON, Minister for Revenue and Assistant Treasurer, make this Determination under paragraph 50 (1) (b) of the Australian Prudential Regulation Authority Act 1998.

Dated 27 June 2007

PETER CRAIG DUTTON

Minister for Revenue and Assistant Treasurer

Contents

1Name of Determination   2

2Commencement   2

3Revocation of Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2006   2

4Definitions   2

5Commonwealth costs (Act s 50)   2

1. Name of Determination

This Determination is the Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2007.

1. Commencement

This Determination commences on 1 July 2007.

1. Revocation of Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2006

The Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2006 is revoked.

1. Definitions

In this Determination:

2007–2008 financial year means the financial year beginning on 1 July 2007.

Act means the Australian Prudential Regulation Authority Act 1998.

levy money has the meaning given by subsection 50 (6) of the Act.

1. Commonwealth costs (Act s 50)

For paragraph 50 (1) (b) of the Act, the table sets out the amount of levy money payable to the Commonwealth in respect of the relevant class of levy for the 2007–2008 financial year, to cover the costs to the Commonwealth of providing market integrity and consumer protection functions for prudentially regulated institutions.

Item	Matter	Amount ($)	Purpose of amount
1	Amount of the levy money payable to the Commonwealth under the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998	2 500 000	For the Australian Securities and Investments Commission, in so far as it provides, on behalf of the Commonwealth, market integrity and consumer protection functions for prudentially regulated institutions
2	Amount of the levy money payable to the Commonwealth under the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998	0
3	Amount of the levy money payable to the Commonwealth under the General Insurance Supervisory Levy Imposition Act 1998	1 600 000	For the Australian Securities and Investments Commission, in so far as it provides, on behalf of the Commonwealth, market integrity and consumer protection functions for prudentially regulated institutions
4	Amount of the levy money payable to the Commonwealth under the Life Insurance Supervisory Levy Imposition Act 1998	2 000 000	For the Australian Securities and Investments Commission, in so far as it provides, on behalf of the Commonwealth, market integrity and consumer protection functions for prudentially regulated institutions
5	Amount of the levy money payable to the Commonwealth under the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998	0
6	Amount of the levy money payable to the Commonwealth under the Superannuation Supervisory Levy Imposition Act 1998	19 800 000	$10 000 000 of the amount is for the Australian Securities and Investments Commission, in so far as it provides, on behalf of the Commonwealth, market integrity and consumer protection functions for prudentially regulated institutions $9 800 000 of the amount is for the Australian Taxation Office, in so far as it provides, on behalf of the Commonwealth, market integrity and consumer protection functions for prudentially regulated institutions