Superannuation Industry (Supervision) Act 1993
PART 24
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ELIGIBLE ROLLOVER FUNDS
Division 2
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Authority to operate an eligible rollover fund
Subdivision B
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Authority
SECTION 242H
242H
APRA TO GIVE NOTICE OF REFUSAL OF AUTHORITY
If APRA refuses an application by an RSE licensee for authority to operate a regulated superannuation fund as an eligible rollover fund, APRA must take all reasonable steps to ensure that the RSE licensee is given a notice:
(a) informing it of APRA ' s refusal of the application; and
(b) setting out the reasons for the refusal;
View history note
Hide history note[ CCH Note: Pt 24 has effect in relation to standard employer-sponsored funds and eligible rollover funds, and their trustees, as if it were modified by amendments to s 244 , 247 , 248 and 249 - see ISC Modification Declaration No 4 under s 244 , 247 , 248 and 249 .]
If APRA refuses an application by an RSE licensee for authority to operate a regulated superannuation fund as an eligible rollover fund, APRA must take all reasonable steps to ensure that the RSE licensee is given a notice:
(a) informing it of APRA ' s refusal of the application; and
(b) setting out the reasons for the refusal;
as soon as practicable after refusing the application.
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