Superannuation Industry (Supervision) Act 1993
If APRA refuses an application by an RSE licensee for authority to offer a class of beneficial interest in a regulated superannuation fund as a MySuper product, APRA must take all reasonable steps to ensure that the RSE licensee is given a notice:
(a) informing it of APRA ' s refusal of the application; and
(b) setting out the reasons for the refusal;
as soon as practicable after refusing the application.
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