Banking Act 1959

Part VI - Reconsideration and Review of decisions  

SECTION 51B   Reconsideration of decisions  

(1)  
A person affected by a reviewable decision of APRA who is dissatisfied with the decision may, by notice in writing given to APRA, within the period of 21 days after the day on which the decision first comes to the notice of the person, or within such further period as APRA allows, request APRA to reconsider the decision.

(2)  
The request must set out the reasons for making the request.

(3)  
Upon receiving the request, APRA must reconsider the decision and may, subject to subsection (4), confirm or revoke the decision or vary the decision in such manner as APRA thinks fit.

(4)  
If APRA does not confirm, revoke or vary a decision before the end of the period of 21 days after the day on which APRA received the request under subsection (1) to reconsider the decision, APRA is taken, at the end of that period, to have confirmed the decision under subsection (3).

(5)  
If APRA confirms, revokes or varies a decision before the end of the period referred to in subsection (4), APRA must, by notice served on the person who made the request:


(a) tell the person of the result of APRA's reconsideration of the decision; and


(b) set out the findings on material questions of fact; and


(c) refer to the evidence or other material on which those findings were based; and


(d) give APRA's reasons for confirming, revoking or varying the decision, as the case may be.

(6)  
When APRA serves on a person a notice containing information of a kind mentioned in paragraph (5)(b) or (c), APRA may include in the notice conditions to be complied with in relation to the notice or any information disclosed in the notice.

(7)  


A person commits an offence if the person fails to comply with a condition imposed under subsection (6).

Penalty: Imprisonment for 2 years.

(8)  
Strict liability applies to the physical element of the offence in subsection (7) that the condition is imposed under subsection (6).

Note:

Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.