Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2017 (Cth)

Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2017

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:  27 June 2017

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 2017.

2  Commencement

This determination commences on 1 July 2017.

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The Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2016 is repealed.

5  Definitions

In this determination:

2017‑2018 financial year means the financial year commencing on 1 July 2017.

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 2017-2018 financial year, is
$108 400 000.

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 2017‑2018 financial year, on behalf of the Commonwealth, that is to be credited to the APRA Special Account on an ongoing basis is 55.7%.