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SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 131DB Machinery provisions relating to directions under this Division

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 131DB

Machinery provisions relating to directions under this Division

  (1)   A direction under this Division must:

  (a)   be given by notice in writing:

  (i)   in the case of a direction to an RSE licensee under subsection   131D(1) or 131DA(1)--to the RSE licensee; and

  (ii)   in the case of a direction to a connected entity of an RSE licensee under subsection   131DA(3)--to the connected entity of the RSE licensee and the RSE licensee; and

  (b)   specify:

  (i)   in the case of a direction under subsection   131DA(3)--the ground referred to in subsection   131DA(1) as a result of which the direction is given; or

  (ii)   otherwise--the ground referred to in subsection   131D(1) or 131DA(1) as a result of which the direction is given.

  (2)   A direction under this Division is not a legislative instrument.

Note:   Under paragraph   11(2)(c) of the Legislation Act 2003 , APRA may register a direction under this Division as a notifiable instrument.

  (3)   In deciding whether to give a direction under subsection   131D(1) to an RSE licensee, APRA may disregard any external support for the RSE licensee.

  (4)   In deciding whether to give a direction under subsection   131DA(1) or (3), APRA may disregard any external support for the RSE licensee, or the connected entity of the RSE licensee, in relation to which the direction is given.

  (5)   The regulations may specify that a particular form of support is not external support for the purposes of subsection   (3) or (4).

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