Document ID: chunk:federal_register_of_legislation:F2018L00753:body:0:p2
Version: federal_register_of_legislation:F2018L00753
Segment Type: other
Provision Reference: 
Character Range: 4805–7303

does not have an office in Australia at the beginning of the financial year – when the foreign bank establishes an office in Australia during the financial year;
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               (b)              in every other case – at the beginning of the financial year.

In relation to the Schedule of charges above:

    (a)               Each of the charges is GST exempt (see Note 1 below);

    (b)               Subject to paragraph (c) below, APRA may waive or refund, in whole or in part, any application charge set out in the Schedule of charges if APRA is satisfied that special circumstances apply which would make it unjust or oppressive to impose a part of the charge, or the full amount of the charge.  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;

    (c)               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informs the applicant that the application will be unsuccessful (see Note 2 below) or if the application is withdrawn or not proceeded with by the applicant;

    (d)               The charges specified in column 2 may be waived by APRA where the foreign bank is a central bank;  and

    (e)               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.

Note 1: As per Division 81 of A New Tax System (Goods and Services Tax) Act 1999.

Note 2: For the avoidance of doubt, it should be noted that the charge is payable in respect of every new application, even one that is made after the refusal or withdrawal of an earlier application for which the applicant also paid a fee.