Commonwealth Consolidated Acts

AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY ACT 1998 - SECT 16

  (1)   APRA is to consist of not fewer than 3 members nor more than 5 members.

  (2)   The APRA members are to be appointed by the Governor - General by written instrument.

  (3)   At least 3 of the APRA members must be appointed as full - time members, and each of the other APRA members (if any) may be appointed as a full - time or part - time member.

  (4)   The performance of APRA's functions or the exercise of APRA's powers is not affected by reason only that:

  (a)   there are fewer than 3 APRA members; or

  (b)   there are fewer than 3 full - time APRA members.