Commonwealth Consolidated Acts

RETIREMENT SAVINGS ACCOUNTS ACT 1997 - SECT 31

             (1)  If, under section 29 or 30, APRA decides to vary the approval of an RSA institution, APRA must:

                     (a)  by notice in writing, vary the approval; and

                     (b)  give a copy of that notice, and a statement of the reasons for the variation, to the RSA institution.

             (2)  A notice varying an approval must:

                     (a)  identify the approval being varied; and

                     (b)  specify the day, not earlier than the day on which the notice of variation is made, when the variation begins; and

                     (c)  specify any conditions to which the approval of the RSA institution is subject after the variation begins.

             (3)  If, under section 29, APRA decides to refuse to vary the approval of an RSA institution, APRA must:

                     (a)  by notice in writing, record that it has so decided; and

                     (b)  give a copy of that notice, and a statement of the reasons for the refusal to vary the approval, to the RSA institution.