Insurance Act 1973

APRA may, by writing under its seal, delegate any or all of APRA’s functions and powers under this Part to a person.

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

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

Section 15 of the Australian Prudential Regulation Authority Act 1998:

makes the agreement of the Chair of ASIC a condition for a delegation to an ASIC member or an ASIC staff member; and

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.