Instrument fixing charges to be paid to APRA (03/06/2003) (Cth)

Australian Prudential Regulation Authority

Australian Prudential Regulation Authority Act 1998

INSTRUMENT FIXING CHARGES TO BE PAID TO APRA

FOR APPLICATIONS FOR AUTHORISATION AS AN

ADI, GENERAL INSURER OR LIFE COMPANY

I, Jim Flaye, a delegate of the Australian Prudential Regulation Authority (APRA), under paragraph 51(1)(b) of the Australian Prudential Regulation Authority Act 1998 FIX the charges specified in the Schedule.

Dated 3 June 2003

[signed]

…………………………………….

J Flaye

Chief Financial Officer

SCHEDULE

CHARGES FOR APPLICATIONS

Item	Application for which the charge is imposed	Amount of the charge
1	Application for authorisation as an ADI under section 9 of the Banking Act 1959 – where the applicant applies to be authorised to carry on business as a bank or special service provider.	$68,200
2	Application for authorisation as an ADI under section 9 of the Banking Act 1959 – where the applicant applies to be authorised to carry on business as a building society or credit union.	$22,000
3	Application for authorisation as an ADI under section 9 of the Banking Act 1959 – where the applicant applies to be authorised to carry on business as a specialist credit card institution.	$33,000
4	Application for authorisation as a general insurer under section 12 of the Insurance Act 1973.	$68,200
5	Application for registration as a life company under section 21 of the Life Insurance Act 1995 – in every case other than a case covered by item 6.	$55,000
6	Application for registration as a life company under section 21 of the Life Insurance Act 1995 – where the applicant applies to be registered as a life company subject to a determination under subsection 16C(2) of that Act that it is a friendly society.	$22,000

Each of the charges specified above:

(a)   is inclusive of GST; and

(b)   is payable by the applicant for the authorisation or registration; and

(c)   is payable when the application is lodged with APRA; and

(d)   is not refundable if the authorisation or registration is refused by APRA or the application is withdrawn or not proceeded with by the applicant; and

(e)   may be waived or refunded by APRA in whole or in part if, and only if, APRA is satisfied that special circumstances apply which make it unjust or oppressive to impose the charge, or the full amount of the charge.