Australian Prudential Regulation Authority instrument fixing charges No. 4 of 2009
For applicants seeking authorisation or registration as a non-operating holding company (NOHC)
Australian Prudential Regulation Authority Act 1998
I, Jim Flaye, a delegate of APRA, under paragraph 51(1)(b) of the Australian Prudential Regulation Authority Act 1998, FIX the charges specified in the attached Schedule of charges in respect of the specified applications or requests made to APRA under the Banking Act
1959, Insurance Act 1973 or Life Insurance Act 1975, AND provide for the WAIVER and
REFUND respectively of the charges specified in the attached Schedule.
This instrument commences on the date of registration on the Federal Register of Legislative
Instruments under the Legislative Instruments Act 2003.
Dated 15 January 2010
[Signed]
Jim Flaye
Chief Financial Officer
Interpretation Document ID: 175424
In this Notice
APRA means the Australian Prudential Regulation Authority.
Schedule of charges
Charges for Applications
Item Applications for which the charge is imposed
Person required to pay the charge
Amount of the charge
When the charge is to be paid
1. Authorisation as a NOHC of an ADI that is a bank or special service provider.
2. Authorisation as a NOHC of an ADI that is a building society or credit union.
3. Authorisation as a NOHC
of an ADI that is a specialist credit card institution.
4. Authorisation as a NOHC
of a general insurer.
5. Registration as a NOHC of
a life company (other than a friendly society).
6. Registration as a NOHC of a life company that is a friendly society.
Applicant $44,000, (not refundable if application refused) inclusive of GST.
Applicant $22,000, (not refundable if application refused) inclusive of GST.
Applicant $22,000, (not refundable if application refused) inclusive of GST.
Applicant $22,000, (not refundable if application refused) inclusive of GST.
Applicant $22,000, (not refundable if application refused) inclusive of GST.
Applicant $22,000, (not refundable if application refused) inclusive of GST.
On lodgement of the application.
On lodgement of the application.
On lodgement of the application.
On lodgement of the application.
On lodgement of the application.
On lodgement of the application.
Interpretation
In this Schedule
ADI is short for authorised deposit-taking institution and has the meaning given in the
Banking Act 1959.
NOHC is short for non-operating holding company and has the meaning given in the Banking
Act 1959, the Insurance Act 1973 or the Life Insurance Act 1995, as applicable.
Note 1 References to the Life Insurance Act 1995 are to the Life Insurance Act 1995 as it is proposed to be amended by the Financial Sector Legislation Amendment (Enhancing Supervision and Enforcement) Act 2009.
Schedule - provision for waiver and refund of charges
1. Subject to paragraph 2 below, APRA may waive or refund, in whole or in part, any application fee set out in the Schedule of charges if APRA is satisfied that special circumstances apply which would make it unjust or oppressive to charge the fee, or the full amount of the fee.
An example of a case where a waiver or refund may be justified is where an applicant applies for the wrong kind of authorisation by mistake, and withdraws the application before APRA has done any substantial amount of work considering the application.
2. No refund or waiver will be made if the application is unsuccessful or if APRA, in the course of processing the application, informs the applicant that the application will be unsuccessful.
3. An applicant seeking a refund or waiver of an application fee must apply in writing to APRA setting out details of the special circumstances that apply.
