Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 2000 (Extracts only) (24 of 2000)

Schedule 9   Amendment of superannuation legislation relating to financial assistance to funds

Superannuation Industry (Supervision) Act 1993

11   At the end of Division 1 of Part 23

Add:

230A APRA to advise Minister in relation to application for assistance

(1) The Minister must make a written request to APRA for advice in relation to the application. The request may specify:

(a) particular matters that APRA is to provide advice about; and

(b) a time by which the advice must be provided.

(2) APRA must comply with the request and may, in its advice, also address any other issues that APRA considers relevant to the determination of the application.

(3) The Minister’s written request to APRA made under subsection (1) for advice in relation to the application for assistance must be laid before each House of the Parliament as soon as practicable after the Minister has made a written determination under subsection 231(1).