Document ID: chunk:federal_register_of_legislation:C2008A00104:section:3
Version: federal_register_of_legislation:C2008A00104
Segment Type: section
Provision Reference: s 3
Character Range: 2760–3646

3  Definitions

  In this Act:

APRA has the same meaning as in the Insurance Act 1973.

APRA's financial claims scheme costs for a general insurer in relation to which Division 3 of Part VC of the Insurance Act 1973 applies or applied means the sum of:
 (a) entitlements under that Division relating to the insurer; and
 (b) the costs of the following:
 (i) the administration of that Part in relation to the insurer;
 (ii) the exercise of APRA's powers under that Part in relation to the insurer;
 (iii) the performance of APRA's functions under that Part in relation to the insurer; and
 (c) the costs of any borrowing under section 54E of the Australian Prudential Regulation Authority Act 1998 connected with the application of that Division in relation to the insurer.

general insurer has the same meaning as in the Insurance Act 1973.

levy means levy imposed under this Act.