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AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY ACT 1998No. 50, 1998 - SECT 8
Purpose for establishing APRA
(1) APRA is established for the purpose of regulating bodies in the financial
sector in accordance with other laws of the Commonwealth that provide for
prudential regulation or for retirement income standards, and for developing
the policy to be applied in performing that regulatory role.
(2) In providing this regulation and developing this policy, APRA is to
balance the objectives of financial safety and efficiency, competition,
contestability and competitive neutrality.
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