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Outcome 1 - To enhance public confidence in Australia's financial institutions through a framework of prudential regulation which balances financial safety, efficiency, competition, contestability and competitive neutrality
Funding for HIH Royal Commission related costs
The Government has agreed to provide APRA with $4.0 million to meet its expenses incurred as a result of the Royal Commission into the failure of HIH. This funding will enable APRA to meet the cost of legal support, specialist technical consultants, general administration costs and the cost of extra staff seconded full time to Royal Commission work.