Financial Regulator Assessment Authority Act 2021

The Authority may, in writing, delegate to a member or staff member the Authority’s functions or powers under the following provisions:

subsections 16(1) and (3) (reports to be given to APRA or ASIC);

subsection 39(2) (protected information not to be included in reports).

The Authority may, in writing, delegate the Authority’s functions or powers under subsection 20(2) (cooperation with Authority) to:

a member; or

a staff member who is:

an SES employee; or

an acting SES employee; or

classified as Executive Level 2 or equivalent; or

acting in a position usually occupied by an APS employee who is so classified.

Sections 34AA to 34A of the Acts Interpretation Act 1901 contain provisions relating to delegations.

In performing a function, or exercising a power, delegated under subsection (1) or (2), the delegate must comply with any written directions of the Authority.

The delegation continues in force despite a change in the membership of the Authority.

The delegation may be varied or revoked by the Authority (whether or not there has been a change in the membership of the Authority).