Definitions
3 Definitions
In this Act:
ADI has the same meaning as in the Banking Act 1959.
APRA has the same meaning as in the Banking Act 1959.
APRA's financial claims scheme costs for an ADI in relation to which Subdivision C of Division 2AA of Part II of the Banking Act 1959 applies or applied means the sum of:
entitlements under that Subdivision relating to the ADI; and
the costs of the following:
the administration of that Division in relation to the ADI;
the exercise of APRA's powers under that Division in relation to the ADI;
the performance of APRA's functions under that Division in relation to the ADI; and
the costs of any borrowing under section 54E of the Australian Prudential Regulation Authority Act 1998 connected with the application of that Subdivision in relation to the ADI.
levy means levy imposed under this Act.
This Act’s bill:Explanatory memorandumSecond reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.