Banking Act 1959

Part II - Provisions relating to the carrying on of banking business  

Division 2AA - Financial claims scheme for account-holders with insolvent ADIs  

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Subdivision D - Administration  

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SECTION 16AN   APRA may delegate functions and powers under this Division  

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(1)    
APRA may, by writing under its seal, delegate any or all of APRA ' s functions and powers under this Division to a person.

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

(3)    
This section does not limit section 15 of the Australian Prudential Regulation Authority Act 1998 .

Note:

Section 15 of the Australian Prudential Regulation Authority Act 1998 :

  • (a) makes the agreement of the Chair of ASIC a condition for a delegation to an ASIC member or an ASIC staff member; and
  • (b) makes the agreement of the Governor of the Reserve Bank a condition for a delegation to the Governor or Deputy Governor of the Reserve Bank or to an officer of the Reserve Bank Service.


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