Directions by Minister respecting APRA policies and priorities
12 Directions by Minister respecting APRA policies and priorities
The Minister may, by legislative instrument, give APRA a direction about policies it should pursue, or priorities it should follow, in performing or exercising any of its functions or powers.
The Minister must not give a direction under subsection (1) unless he or she has:
notified APRA in writing that he or she is considering giving the direction; and
given the Chair an adequate opportunity to discuss with the Minister the need for the proposed direction.
The Minister must not give a direction under subsection (1) about a particular case.
APRA must comply with a direction under subsection (1).
This section does not limit any other powers to give directions that the Minister has under any other law.
This Act’s bill:Explanatory memorandumSecond reading speech
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