Financial Sector (Transfer and Restructure) Act 1999

PART 4 - COMPULSORY TRANSFERS  

Division 2 - Compulsory transfer determinations  

SECTION 26   CONSULTATION ABOUT MAKING THE DETERMINATION  

26(1)    
In deciding whether to make a compulsory transfer determination, APRA may consult with any or all of the following:

(a) officers or employees of the States and Territories;

(b) the Reserve Bank of Australia;

(c) any other person or body that APRA considers should be consulted.

26(2)    
Subject to subsections (3) and (4), in deciding whether to make a compulsory transfer determination, APRA must consult with:

(a) the Australian Competition and Consumer Commission; and

(b) the Australian Securities and Investments Commission.

26(3)    
APRA does not have to consult with the Australian Competition and Consumer Commission in relation to the making of a compulsory transfer determination if the Commission has notified APRA, in writing, that it does not wish to be consulted about:

(a) the transfer concerned; or

(b) a class of transfers that includes that transfer.

26(4)    
APRA does not have to consult with the Australian Securities and Investments Commission in relation to the making of a compulsory transfer determination if the Commission has notified APRA, in writing, that it does not wish to be consulted about:

(a) the transfer concerned; or

(b) a class of transfers that includes that transfer.

 View history note

 Hide history note