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.