Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2016 (Cth)

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.................................................................................................. 1

2............ Commencement............................................................................................................. 1

3............ Authority....................................................................................................................... 1

4............ Repeal............................................................................................................................ 1

5............ Definitions..................................................................................................................... 1

6............ Commonwealth costs.................................................................................................... 1

7............ Proportion of levy money paid to APRA...................................................................... 1

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The Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2015 is repealed.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%.