SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993

PART 2C - MYSUPER  

Division 4 - Cancelling authority  

SECTION 29UA   CANCELLATION OF AUTHORITY OF AN RSE LICENSEE THAT IS ALSO A FINANCIAL SERVICES LICENSEE  

29UA(1)  
Before cancelling an authority 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.

29UA(2)  
If APRA cancels the authority of an RSE licensee that is also a financial services licensee, APRA must inform ASIC of the cancellation within one week after the cancellation.

29UA(3)  
A failure to comply with a requirement of this section does not invalidate the cancellation of an authority to offer a class of beneficial interest in a regulated superannuation fund as a MySuper product.




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