Australian Prudential Regulation Authority (Commonwealth Costs) Amendment Determination 2011 (No. 1)1
Australian Prudential Regulation Authority Act 1998
I, BILL SHORTEN, Minister for Financial Services and Superannuation, make this Determination under paragraph 50 (1) (b) of the Australian Prudential Regulation Authority Act 1998.
Dated 8 December 2011
BILL SHORTEN
Minister for Financial Services and Superannuation
1              Name of Determination
                This Determination is the Australian Prudential Regulation Authority (Commonwealth Costs) Amendment Determination 2011 (No. 1).
2              Commencement
                This Determination commences on the day after it is registered.
3              Amendment of Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2011
                Schedule 1 amends the Australian Prudential Regulation Authority (Commonwealth Costs) Determination 2011.
Schedule 1        Amendments
(section 3)
  
[1]           Section 5, except the table
substitute
5              Commonwealth costs
                For paragraph 50 (1) (b) of the Act, the table sets out the amount of levy money payable to the Commonwealth in respect of the relevant class of levy for the 2011–2012 financial year, to cover the costs to the Commonwealth of:
                (a)    providing market integrity and consumer protection functions for prudentially regulated institutions; and
               (b)    administering the function of making determinations about the release, on compassionate grounds, of benefits that are in a superannuation entity.
[2]           Section 5, table, item 4
substitute
4
Amount of the levy money payable to the Commonwealth under the Superannuation Supervisory Levy Imposition Act 1998
20 710 000
$10 800 000 of the amount is for the Australian Securities and Investments Commission, in so far as it provides, on behalf of the Commonwealth, market integrity and consumer protection functions for prudentially regulated institutions
$7 200 000 of the amount is for the Australian Taxation Office, in so far as it provides, on behalf of the Commonwealth, market integrity and consumer protection functions for prudentially regulated institutions

 
 
 
$2 710 000 of the amount is for the Department of Human Services, in so far as the Chief Executive Medicare administers, on behalf of the Commonwealth, the function of making determinations about the release, on compassionate grounds, of benefits that are in a superannuation entity

Note
1.       All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.