Superannuation Industry (Supervision) Act 1993

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

Division 6 - Varying RSE licences  

SECTION 29FE   NOTIFICATION OF APRA'S DECISIONS UNDER THIS DIVISION  

29FE(1)   [When notice required]  

APRA must give a notice to an RSE licensee if APRA:

(a) varies the RSE licensee's RSE licence under section 29FC so that it is an RSE licence of a different class; or

(b) varies or revokes, under section 29FC or 29FD , a condition that APRA imposed on the RSE licence under section 29EA .

29FE(2)   [Contents of notice]  

The notice must:

(a) if paragraph (1)(a) applies - specify the class of the RSE licence after the variation; and

(b) if paragraph (1)(b) applies:

(i) identify the licence condition being varied or revoked; and

(ii) specify any conditions imposed under section 29EA to which the licence is subject after the variation or revocation comes into force; and

(c) state the reasons for the variation or revocation; and

(d) specify the day, not earlier than the day on which APRA gives the notice, on which the variation or revocation comes into force.

29FE(3)   [Contents of notice of refusal]  

If APRA refuses an application for a variation or revocation under section 29FC , APRA must take all reasonable steps to ensure that the RSE licensee that made the application is given a notice informing it of:

(a) APRA's refusal of the application; and

(b) the reasons for the refusal;

as soon as practicable after refusing the application.