Australian Prudential Regulation Authority Act 1998

PART 2 - ESTABLISHMENT, FUNCTIONS AND POWERS OF APRA  

SECTION 11   APRA'S POWERS  

11(1)    
APRA has power to do anything that is necessary or convenient to be done for or in connection with the performance of its functions.

11(2)    
APRA's powers include, but are not limited to, the following powers:

(a) the power to acquire, hold and dispose of real and personal property;

(b) the power to enter into contracts;

(c) the power to lease the whole or any part of land or a building for the purposes of APRA;

(d) the power to occupy, use and control any land or building owned or held under lease by the Commonwealth and made available for the purposes of APRA;

(e) the power to do anything incidental to any of its functions.

11(3)    

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APRA may enter into contracts in its own right.

Note:

The Chair of APRA may enter into contracts and other arrangements on behalf of the Commonwealth. See section 23 of the Public Governance, Performance and Accountability Act 2013 .

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History

S 11(3) amended by No 62 of 2014, s 3 and Sch 7 item 395, by substituting the note, effective 1 July 2014. The note formerly read:

Note:

The Chair of APRA may also enter into contracts on behalf of the Commonwealth. See section 44 of the Financial Management and Accountability Act 1997 .

S 11(3) inserted by No 74 of 2007, Sch 1 item 49, effective 1 July 2007.

11(4)    

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Any real or personal property held by APRA is held for and on behalf of the Commonwealth.

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History

S 11(4) inserted by No 74 of 2007, Sch 1 item 49, effective 1 July 2007.

11(5)    

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Any money received by APRA is received for and on behalf of the Commonwealth.

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History

S 11(5) inserted by No 74 of 2007, Sch 1 item 49, effective 1 July 2007.

11(6)    

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To avoid doubt, a right to sue is taken not to be personal property for the purposes of subsection (4).

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History

S 11(6) inserted by No 74 of 2007, Sch 1 item 49, effective 1 July 2007.

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