APRA to advise Minister in relation to application for assistance
230A APRA to advise Minister in relation to application for assistance
The Minister must make a written request to APRA for advice in relation to the application. The request may specify:
particular matters that APRA is to provide advice about; and
a time by which the advice must be provided.
APRA must comply with the request and may, in its advice, also address any other issues that APRA considers relevant to the determination of the application.
The Minister’s written request to APRA made under subsection (1) for advice in relation to the application for assistance must be laid before each House of the Parliament as soon as practicable after the Minister has made a written determination under subsection 231(1).
12 Subsection 231(1)
Omit “and any additional information given by the trustee”, substitute “, any additional information given by the trustee, and APRA’s advice under section 230A”.
13 Subsection 231(1)
Omit “loss”, substitute “an eligible loss”.
14 Section 232
Omit “loss”, substitute “eligible loss”.
Schedule 10—Other amendments of the Superannuation Industry (Supervision) Act 1993
1 Subparagraph 6(1)(a)(viii)
Omit “(other than section 140)”.
2 Subparagraph 6(1)(c)(iii)
Repeal the subparagraph.
3 Subsection 10(1) (definition of approved form)
Repeal the definition, substitute:
approved form has the meaning given by section 11A.
4 Subsection 10(1)
Insert:
signed, in relation to a body corporate, means executed by or on behalf of the body corporate in a way that is effective in law and that binds the body corporate.
5 After section 11
Insert:
This Act’s bill:Explanatory memorandumSecond reading speech
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