SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 29GA Cancellation of RSE licences of financial services licensees
SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 29GA
Cancellation of RSE licences of financial services licensees(1) Before cancelling the RSE licence of an RSE licensee that is also a financial services licensee, APRA must consult ASIC if, in APRA's opinion, the cancellation might reasonably be expected to affect the RSE licensee's ability to provide one or more of the financial services (within the meaning of the Corporations Act 2001 ) that the RSE licensee provides.
(2) If APRA cancels the RSE licence of an RSE licensee that is also a financial services licensee, APRA must inform ASIC of the cancellation within one week after the cancellation.
(3) A failure to comply with a requirement of this section does
not invalidate the cancellation of an RSE licence.