Document ID: chunk:federal_register_of_legislation:C2006C00145:clause:15_3
Version: federal_register_of_legislation:C2006C00145
Segment Type: clause
Provision Reference: sch 15 cl 3
Character Range: 185530–187171

3  General administration of Act

 (1) Subject to subsection (3):
 (a) APRA has the general administration of:
 (i) Part 3; and
 (ii) sections 40 to 44; and
 (iii) Parts 6, 9 and 11; and
 (iv) sections 183, 193 and 194; and
 (b) APRA also has the general administration of sections 37 to 39 and section 49 to the extent that it is not conferred on ASIC by paragraph (d); and
 (c) ASIC has the general administration of:
 (i) Part 5 (other than section 49); and
 (ii) Parts 7 and 8; and
 (iii) section 184; and
 (d) ASIC also has the general administration of sections 37 to 39 and section 49 to the extent to which they relate to:
 (i) the keeping and retaining of records in relation to RSA's; or
 (ii) the disclosure of information to holders of RSA's; or
 (iii) the disclosure of information about RSA's (including disclosure of information to ASIC but not including disclosure of information to APRA); or
 (iv) any other matter prescribed by the regulations for the purposes of this paragraph.

 (2) The following provisions (amongst other things) confer powers and duties on APRA for the purposes of APRA's administration of the provisions it administers and on ASIC for the purposes of ASIC's administration of the provisions it administers:
 (a) Parts 1 and 2;
 (b) Part 10;
 (c) Parts 12 to 15;
 (d) Part 16 (other than sections 183, 184, 193 and 194).

Note: Generally neither APRA nor ASIC are referred to in these provisions, Regulator is used instead. See the definition of Regulator in section 16.

 (3) The Minister may give APRA or ASIC directions about the performance or exercise of its functions or powers under this Act.