SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 2A - LICENSING OF TRUSTEES AND GROUPS OF INDIVIDUAL TRUSTEES  

Division 8 - Approval to hold a controlling stake in an RSE licensee  

Subdivision C - Approval  

SECTION 29HD   29HD   APPROVAL TO HOLD A CONTROLLING STAKE IN AN RSE LICENSEE  


APRA must give approval for a person to hold a controlling stake in an RSE licensee if, and only if:


(a) the application for approval complies with section 29HA ; and


(b) the applicant has provided to APRA all information that the applicant was requested under section 29HB to provide, or the request has been disposed of; and


(c) APRA has no reason to believe that, because of the person ' s controlling stake in the RSE licensee, or the way in which that controlling stake is likely to be used, the RSE licensee may be unable to satisfy one or more of the trustee ' s obligations contained in a covenant set out in sections 52 to 53 , or prescribed under section 54A .




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