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This is a Bill, not an Act. For current law, see the Acts databases.
2016-2017-2018
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Treasury Laws Amendment (APRA
Governance) Bill 2018
No. , 2018
(Treasury)
A Bill for an Act to provide for an additional
Deputy Chair of APRA, and for related purposes
No. , 2018
Treasury Laws Amendment (APRA Governance) Bill 2018
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedules ........................................................................................... 2
Schedule 1--Additional Deputy Chair of APRA
3
Australian Prudential Regulation Authority Act 1998
3
No. , 2018
Treasury Laws Amendment (APRA Governance) Bill 2018
1
A Bill for an Act to provide for an additional
1
Deputy Chair of APRA, and for related purposes
2
The Parliament of Australia enacts:
3
1 Short title
4
This Act is the Treasury Laws Amendment (APRA Governance)
5
Act 2018.
6
2 Commencement
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(1) Each provision of this Act specified in column 1 of the table
8
commences, or is taken to have commenced, in accordance with
9
column 2 of the table. Any other statement in column 2 has effect
10
according to its terms.
11
12
2
Treasury Laws Amendment (APRA Governance) Bill 2018
No. , 2018
Commencement information
Column 1
Column 2
Column 3
Provisions
Commencement
Date/Details
1. The whole of
this Act
The day after the end of the period of 14
days beginning on the day this Act receives
the Royal Assent.
Note:
This table relates only to the provisions of this Act as originally
1
enacted. It will not be amended to deal with any later amendments of
2
this Act.
3
(2) Any information in column 3 of the table is not part of this Act.
4
Information may be inserted in this column, or information in it
5
may be edited, in any published version of this Act.
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3 Schedules
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Legislation that is specified in a Schedule to this Act is amended or
8
repealed as set out in the applicable items in the Schedule
9
concerned, and any other item in a Schedule to this Act has effect
10
according to its terms.
11
Additional Deputy Chair of APRA Schedule 1
No. , 2018
Treasury Laws Amendment (APRA Governance) Bill 2018
3
Schedule 1--Additional Deputy Chair of APRA
1
2
Australian Prudential Regulation Authority Act 1998
3
1 Subsection 3(1) (definition of APRA Member)
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Omit "and Deputy Chair", substitute "and each Deputy Chair".
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2 Subsection 3(1) (definition of Deputy Chair)
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Repeal the definition, substitute:
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Deputy Chair means an APRA member appointed as a Deputy
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Chair of APRA.
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3 Section 18
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Repeal the section, substitute:
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18 Appointment of Chair and Deputy Chairs
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(1) The Governor-General is to appoint as Chair of APRA a person
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who is, or is to be, a full-time APRA member.
14
(2) The Governor-General may appoint as a Deputy Chair of APRA a
15
person who is, or is to be, a full-time APRA member.
16
Note:
For the manner in which the Chair and a Deputy Chair may be
17
referred to, see section 18B of the Acts Interpretation Act 1901.
18
(3) Not more than 2 persons may hold office as Deputy Chair at any
19
one time.
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4 Subparagraph 19(1)(c)(i)
21
Omit "as Deputy Chair", substitute "as a Deputy Chair".
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5 Subsection 19(3)
23
Repeal the subsection, substitute:
24
(3) The Minister may appoint an APRA member to act as a Deputy
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Chair:
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(a) during a period when there are fewer than 2 persons holding
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office as Deputy Chair; or
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Schedule 1 Additional Deputy Chair of APRA
4
Treasury Laws Amendment (APRA Governance) Bill 2018
No. , 2018
(b) during any period, or during all periods, when a Deputy
1
Chair is absent from duty or from Australia, or is, for any
2
reason, unable to perform the functions of his or her office;
3
or
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(c) during any period, or during all periods, when a Deputy
5
Chair is acting as Chair.
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Note:
For rules that apply to acting appointments, see section 33A of the
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Acts Interpretation Act 1901.
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6 Section 21
9
Repeal the section, substitute:
10
21 Term of office as Chair or a Deputy Chair
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A person appointed as Chair, or as a Deputy Chair, holds that
12
office until:
13
(a) in any case--the end of his or her current term as an APRA
14
member; or
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(b) in any case--he or she otherwise stops being an APRA
16
member; or
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(c) in the case of a person appointed as a Deputy Chair--he or
18
she is appointed as Chair;
19
whichever happens first.
20
Note:
This section has effect subject to section 24 (under which a person
21
may resign his or her appointment as Chair or a Deputy Chair).
22
7 Section 24
23
Omit "as Deputy Chair", substitute "as a Deputy Chair".
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8 Subsections 29(2) and (3)
25
Repeal the subsections, substitute:
26
(2) In the absence of the Chair from a meeting:
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(a) if there are 2 Deputy Chairs available to preside at the
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meeting--the Chair may nominate one of them to preside at
29
the meeting; or
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(b) if there is only one Deputy Chair available to preside at the
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meeting--that Deputy Chair is to preside at the meeting.
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Additional Deputy Chair of APRA Schedule 1
No. , 2018
Treasury Laws Amendment (APRA Governance) Bill 2018
5
(3) If neither the Chair nor any Deputy Chair is present at a meeting,
1
the APRA members present must elect one of their number to
2
preside.
3
9 Saving of appointments
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(1)
This Act does not affect an appointment of the Chair, a Deputy Chair or
5
an APRA member under the Australian Prudential Regulation
6
Authority Act 1998.
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(2)
Subitem (1) does not prevent the termination of an appointment.
8