Governance Review Implementation (Treasury Portfolio Agencies) Act 2007 (74 of 2007)

Schedule 2   Application and transitional provisions

Part 3   Application and transitional provisions for APRA

12   Appointment and engagement of staff and consultants

(1) A person who is appointed or engaged by APRA under section 45 or 47 of the Australian Prudential Regulation Authority Act 1998 immediately before the commencement time, is taken to be appointed or engaged (as the case requires) by the Chair, on behalf of APRA, immediately after the commencement time.

(2) If:

(a) an instrument is in force under section 45 or 47 of the Australian Prudential Regulation Authority Act 1998 immediately before the commencement time; and

(b) the instrument contains a reference to APRA;

so far as the context permits, the instrument has effect from the commencement time as if the reference to APRA were a reference to the Chair of APRA.

(3) To avoid doubt, the amendments made by items 53 to 56 of Schedule 1 do not constitute a transmission of business for the purposes of the Workplace Relations Act 1996.