Financial Sector (Transfer and Restructure) Act 1999

PART 6 - MISCELLANEOUS  

SECTION 42  

42   COMPULSORY TRANSFER - APRA MAY PROVIDE INFORMATION TO RECEIVING BODY  
APRA may, in connection with a compulsory transfer, or a proposed or possible compulsory transfer, provide information (including personal information or confidential commercial information) to the receiving body, or to the possible or proposed receiving body, about:

(a) in the case of a transfer of business - the business that is to be, or that may be, transferred; or

(b) in the case of a transfer of shares:

(i) the shares that are to be, or that may be, transferred; and

(ii) the business of the transferring body.

Note:

Subsection 56(9) of the Australian Prudential Regulation Authority Act 1998 allows an officer of APRA who (on APRA ' s behalf) provides information to a body under this section to impose conditions to be complied with by the body in relation to that information.