Commonwealth Consolidated Acts

PRIVATE HEALTH INSURANCE (PRUDENTIAL SUPERVISION) ACT 2015 - SECT 174

  (1)   APRA may, by legislative instrument (and subject to subsection   (3)), make rules ( APRA rules ) prescribing matters:

  (a)   required or permitted by this Act to be prescribed by APRA rules; or

  (b)   necessary or convenient to be prescribed for carrying out or giving effect to this Act.

  (2)   APRA rules may provide for APRA to exercise powers and discretions under the rules.

  (3)   To avoid doubt, APRA rules may not do the following:

  (a)   create an offence or civil penalty;

  (b)   provide powers of:

  (i)   arrest or detention; or

  (ii)   entry, search or seizure;

  (c)   impose a tax;

  (d)   set an amount to be appropriated from the Consolidated Revenue Fund under an appropriation in this Act;

  (e)   directly amend the text of this Act.

  (4)   APRA may, under section   15 of the Australian Prudential Regulation Authority Act 1998 , delegate the power to make, vary or revoke APRA rules, but only if the delegation is to:

  (a)   an APRA member (within the meaning of that Act); or

  (b)   an APRA staff member who is an executive general manager or equivalent.