Commonwealth Consolidated Acts

FINANCIAL SECTOR (SHAREHOLDINGS) ACT 1998 - SECT 44

  (1)   Subject to subsection   ( 1A), the Treasurer may, by writing, delegate any or all of the Treasurer's powers under this Act to:

  (a)   APRA; or

  (b)   an APRA member (within the meaning of the Australian Prudential Regulation Authority Act 1998 ); or

  (c)   an APRA staff member (within the meaning of the Australian Prudential Regulation Authority Act 1998 ).

  (1A)   The Treasurer must not delegate the Treasurer's power under subsection   45A(2) (power to consent to APRA making rule).

  (2)   The delegate is, in the exercise of any power delegated under subsection   ( 1), subject to the directions of the Treasurer.