State may enter into agreements with APRA
64A State may enter into agreements with APRA
The registrar may with the approval of the Minister, enter into an agreement with APRA on behalf of the State under which APRA is, for a fee, to provide prudential regulation or advice services.
The agreement may—
provide for APRA to act on behalf of the registrar; and
make provision about the circumstances in which, and the extent to which, one party to the agreement is liable to the other party to the agreement for matters arising under the agreement.
In this section—
prudential regulation or advice services means services of either or both of the following kinds—
services consisting of APRA performing a role in the prudential regulation or supervision of societies;
services consisting of APRA providing advice relating to the prudential regulation or supervision of societies.
This Act’s bill:Explanatory memorandum
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