Document ID: chunk:federal_register_of_legislation:C2004A00616:clause:3_22a
Version: federal_register_of_legislation:C2004A00616
Segment Type: clause
Provision Reference: sch 3 cl 22A
Character Range: 14091–16046

22A  Delegation of functions or powers of Reserve Bank

 (1) Subject to subsection (3), the Governor may, by signed instrument, delegate any of the Reserve Bank's functions or powers under this Act to any of the following persons:
 (a) a member of the Reserve Bank Board;
 (b) a member of the Reserve Bank Service.

 (2) Subject to subsection (3), the Governor may, by signed instrument, delegate any of the Reserve Bank's functions or powers under this Act:
 (a) to the Chief Executive Officer of APRA, or to an APRA staff member, if the Chief Executive Officer of APRA agrees to the delegation; or
 (b) to the Australian Statistician, or to an ABS staff member, if the Australian Statistician agrees to the delegation.

 (3) Subsections (1) and (2) do not apply to the Reserve Bank's functions and powers in relation to determining, varying or revoking standards under section 11.

 (4) In performing or exercising functions or powers under a delegation, the delegate must comply with any directions of the Governor.

Note: For information about delegations, see sections 34AA to 34A of the Acts Interpretation Act 1901.

 (5) The Governor may, by signed instrument, vary or revoke a delegation under this section.

 (6) In this section:

ABS staff member means a person referred to in subsection 16(1) or (2) of the Australian Bureau of Statistics Act 1975.

APRA means the Australian Prudential Regulation Authority established by section 7 of the Australian Prudential Regulation Authority Act 1998.

APRA staff member has the same meaning as in the Australian Prudential Regulation Authority Act 1998.

Australian Statistician means the Australian Statistician referred to in subsection 5(2) of the Australian Bureau of Statistics Act 1975.

Reserve Bank Board means the Board referred to in section 9 of the Reserve Bank Act 1959.

Reserve Bank Service means the Reserve Bank Service referred to in subsection 66(2) of the Reserve Bank Act 1959.