Document ID: chunk:federal_register_of_legislation:F2020N00007:reg:6
Version: federal_register_of_legislation:F2020N00007
Segment Type: reg
Provision Reference: reg 6
Character Range: 4910–5744

6  Delegation of the Treasurer's powers
 (1) All previous delegations made under subsection 63(5) of the Banking Act 1959 are revoked.
 (2) All of the Treasurer's functions and powers under section 63 (other than subsection 63(8)) of the Banking Act 1959 are delegated 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) However, the Treasurer's functions and powers under subsection 63(1) of the Banking Act 1959 are delegated only so far as, when the function or power is performed or exercised, the value of total assets of the ADI concerned, as worked out under subsection 5(1) or (2) of this instrument, does not exceed $5 billion.

Part 3— Delegations under the Financial Sector (Shareholdings) Act 1998