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

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

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: 10^th May 2018

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 (Revised).

2  Commencement

This determination is taken to have commenced 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The Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2017 is repealed.

5  Definitions

(1)  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.

(2) Other expressions used in this instrument that are defined in section 50 of the Australian Prudential Regulation Authority Act 1998 have the same meaning as they have in that section.

6  Commonwealth costs

For paragraph 50(1)(a) of the Act, the amount of the levy money payable to the Commonwealth, in respect of levy for the 2017-2018 financial year, is
$111 880 000.

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 54.9%.