Superannuation Industry (Supervision) Act 1993

PART 16A - APRA ' S POWERS TO ISSUE DIRECTIONS  

Division 1 - General powers to issue directions  

SECTION 131DB   MACHINERY PROVISIONS RELATING TO DIRECTIONS UNDER THIS DIVISION  

131DB(1)  
A direction under this Division must:


(a) be given by notice in writing:


(i) in the case of a direction to an RSE licensee under subsection 131D(1) or 131DA(1) - to the RSE licensee; and

(ii) in the case of a direction to a connected entity of an RSE licensee under subsection 131DA(3) - to the connected entity of the RSE licensee and the RSE licensee; and


(b) specify:


(i) in the case of a direction under subsection 131DA(3) - the ground referred to in subsection 131DA(1) as a result of which the direction is given; or

(ii) otherwise - the ground referred to in subsection 131D(1) or 131DA(1) as a result of which the direction is given.

131DB(2)  
A direction under this Division is not a legislative instrument.

Note:

Under paragraph 11(2)(c) of the Legislation Act 2003 , APRA may register a direction under this Division as a notifiable instrument.

131DB(3)  
In deciding whether to give a direction under subsection 131D(1) to an RSE licensee, APRA may disregard any external support for the RSE licensee.

131DB(4)  
In deciding whether to give a direction under subsection 131DA(1) or (3) , APRA may disregard any external support for the RSE licensee, or the connected entity of the RSE licensee, in relation to which the direction is given.

131DB(5)  
The regulations may specify that a particular form of support is not external support for the purposes of subsection (3) or (4).


 

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