Document ID: chunk:federal_register_of_legislation:F2020N00007:reg:10:p1
Version: federal_register_of_legislation:F2020N00007
Segment Type: reg
Provision Reference: reg 10 (pt 1/2)
Character Range: 8874–11434

10  Delegation of the Minister's powers
 (1) All previous delegations made under section 69 of the Insurance Acquisitions and Takeovers Act 1991 are revoked.
 (2) The powers of the Minister listed in subsection (3) are delegated, subject to the limitations in that subsection, to each person holding, occupying, or performing the duties of, any of these offices:
 (a) APRA member;
 (b) Executive Director of APRA;
 (c) General Manager of APRA.
 (3) The delegated powers of the Minister are:
 (a) all powers under sections 41, 43, 44, 46, 55, 57, 58 and 60 of the Insurance Acquisitions and Takeovers Act 1991, but only so far as, when:
 (i) notice of the trigger proposal is given in accordance with section 38 or 52, as the case requires, of that Act; or
 (ii) if notice is not so given—the power is exercised;
  the value of total assets of the Australian-registered insurance company concerned, as worked out under subsection 5(3) or (4) of this instrument, does not exceed $5 billion; and
 (b) all powers under sections 48 and 62 of that Act, but only so far as ,when the power is exercised, the value of total assets of the Australian-registered insurance company concerned, as worked out under subsection 5(3) or (4) of this instrument, does not exceed $5 billion; and
 (c) all powers under section 63, paragraph 66(1)(b) and section 73 of that Act; and
 (d) all powers to make an order under a provision (the primary provision) because of section 64 of that Act, but only so far as a delegate could have made that order under the primary provision if the scheme or the part of the scheme had not achieved the purpose mentioned in paragraph 64(1)(b) of that Act; and
 (e) all powers under subsections 66(3) and (5) of that Act to review a decision under section 41, 43, 44, 46, 55, 57, 58 or 60 of that Act, but only so far as, when:
 (i) notice of the trigger proposal was given in accordance with section 38 or 52, as the case requires, of that Act; or
 (ii) if notice is not so given—the decision was made;
  the value of total assets of the Australian-registered insurance company concerned, as worked out under subsection 5(3) or (4) of this instrument, did not exceed $5 billion; and
 (f) all powers under subsections 66(3) and (5) of that Act to review a decision under section 48 or 62 of that Act, but only so far as, when the decision was made, the value of total assets of the Australian‑registered insurance company concerned, as worked out under subsection 5(3) or (4) of this instrument, did not exceed $5 billion; and
 (g) all powers under