Governance Review Implementation (Treasury Portfolio Agencies) Act 2007 (74 of 2007)

Schedule 1   Amendments

Part 3   APRA

Australian Prudential Regulation Authority Act 1998

58   At the end of Part 4

Add:

48AA Delegation by Chair

(1) The Chair may, in writing, delegate any functions or powers conferred on the Chair by this Part or Part 4A to an APRA member (other than the Chair) or to an APRA staff member.

(2) In performing or exercising functions or powers delegated under subsection (1), the delegate must comply with any directions given by the Chair.

Note: For information about delegations, see sections 34AA to 34A of the Acts Interpretation Act 1901.

48AB APRA Values

(1) The Chair must determine, in writing, the APRA Values.

Note: Subsection 33(3) of the Acts Interpretation Act 1901 provides for the repeal, variation etc. of instruments.

(2) The Chair must uphold and promote the APRA Values.

(3) APRA members (other than the Chair) and staff appointed under section 45 must uphold the APRA Values.

(4) To avoid doubt, an instrument under subsection (1) is not a legislative instrument.

48AC APRA Code of Conduct

(1) The Chair must determine, in writing, the APRA Code of Conduct.

Note: Subsection 33(3) of the Acts Interpretation Act 1901 provides for the repeal, variation etc. of instruments.

(2) The APRA Code of Conduct applies to APRA members and staff appointed under section 45.

(3) To avoid doubt, an instrument under subsection (1) is not a legislative instrument.