Appointments of person appointed to perform specific roles
48 Appointments of person appointed to perform specific roles
Under other laws of the Commonwealth, APRA has power to appoint people to perform particular roles (for example, investigators and administrators under Division 2 of Part II of the Banking Act 1959, Division 1A of Part VB of the Insurance Act 1973 or Division 1AA of Part 8 of the Life Insurance Act 1995). A person appointed to perform such a role must be:
a person who has been appointed by the Chair under section 45; or
a person who is assisting APRA under section 46; or
a person who has been engaged by the Chair under section 47.
Subsection (1) does not apply to an appointment made under, or for the purposes of, the Financial Accountability Regime Act 2023.
This Act’s bill:Explanatory memorandumSecond reading speech
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