Bill
Australian Prudential Regulation Authority Amendment (APRA Industry Funding) Bill 2020
passed, as at 2020-06-19. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2020-05-13
- second reading — 2020-05-13
- second reading — 2020-06-11
- second reading — 2020-06-12
- second reading — 2020-06-12
- third reading — 2020-06-12
- introduced — 2020-06-12
- second reading — 2020-06-12
- second reading — 2020-06-18
- second reading — 2020-06-18
- third reading — 2020-06-18
- passed — 2020-06-18
- royal assent — 2020-06-19
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2020-05-13.
This bill is part of a package that would let the Commonwealth recover costs for a broader set of activities funded through the financial institution supervisory levy framework.
The bill would amend the Australian Prudential Regulation Authority Act 1998 to expand the range of recoverable costs under that framework.
The package would also set a new maximum levy of $10 million for the financial year starting 1 July 2020 and allow the indexation factor to use the latest published CPI figures.
- Amends the Australian Prudential Regulation Authority Act 1998 to widen the range of activities whose costs can be recovered through the supervisory levy framework.
- Raises the statutory cap on certain levy amounts to $10 million for the financial year beginning 1 July 2020.
- Permits the indexation factor for the statutory cap to be calculated using the most recent CPI figures.
Financial institutions subject to the supervisory levy framework.
Sources
em
billhome
frl act