Banking Act 1959

Part II - Provisions relating to the carrying on of banking business  

Division 2 - Protection of depositors  

Subdivision B - Provisions dealing with control of a body corporate ' s business by a Banking Act statutory manager  

SECTION 14B   Administrator in control - additional powers to recommend action by APRA   Types of recommendation

(1)  


An administrator of a body corporate ' s business may make any of the following recommendations to APRA, by instrument in writing given to APRA:


(a) that APRA make a particular direction under Division 1BA , subsection 14D(3) or section 29 in respect of the body corporate;


(b) that APRA apply for the body corporate to be wound up;


(c) if the body corporate is an ADI - that APRA revoke the ADI ' s section 9 authority;


(d) if the body corporate is an authorised NOHC - that APRA revoke the authorised NOHC ' s authority under subsection 11AA(2) .

(2)   Effect of recommendation  

If an administrator of a body corporate ' s business makes a recommendation under this section, APRA must consider the recommendation but is not required to act on it.




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