SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 29FE Notification of APRA's decisions under this Division

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 29FE

  (1)   APRA must give a notice to an RSE licensee if APRA:

  (a)   varies the RSE licensee's RSE licence under section   29FC so that it is an RSE licence of a different class; or

  (b)   varies or revokes, under section   29FC or 29FD, a condition that APRA imposed on the RSE licence under section   29EA.

  (2)   The notice must:

  (a)   if paragraph   (1)(a) applies--specify the class of the RSE licence after the variation; and

  (b)   if paragraph   (1)(b) applies:

  (i)   identify the licence condition being varied or revoked; and

  (ii)   specify any conditions imposed under section   29EA to which the licence is subject after the variation or revocation comes into force; and

  (c)   state the reasons for the variation or revocation; and

  (d)   specify the day, not earlier than the day on which APRA gives the notice, on which the variation or revocation comes into force.

  (3)   If APRA refuses an application for a variation or revocation under section   29FC, APRA must take all reasonable steps to ensure that the RSE licensee that made the application is given a notice informing it of:

  (a)   APRA's refusal of the application; and

  (b)   the reasons for the refusal;

as soon as practicable after refusing the application.