SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

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

Division 7 - Cancelling RSE licences  

SECTION 29GA   CANCELLATION OF RSE LICENCES OF FINANCIAL SERVICES LICENSEES  

29GA(1)   [Consultation with ASIC]  

Before cancelling the RSE licence of an RSE licensee that is also a financial services licensee, APRA must consult ASIC if, in APRA's opinion, the cancellation might reasonably be expected to affect the RSE licensee's ability to provide one or more of the financial services (within the meaning of the Corporations Act 2001 ) that the RSE licensee provides.

29GA(2)   [Information to be given to ASIC]  

If APRA cancels the RSE licence of an RSE licensee that is also a financial services licensee, APRA must inform ASIC of the cancellation within one week after the cancellation.

29GA(3)   [Non-compliance]  

A failure to comply with a requirement of this section does not invalidate the cancellation of an RSE licence.




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