Conditions on a NOHC authorisation
19 Conditions on a NOHC authorisation
APRA may, at any time, by giving written notice to an authorised NOHC:
impose conditions, or additional conditions, on the NOHC authorisation; and
vary or revoke conditions imposed on the NOHC authorisation.
The conditions must relate to prudential matters.
A condition may be expressed to have effect despite anything in the prudential standards.
If APRA imposes, varies or revokes the conditions on a NOHC authorisation, APRA must:
give written notice to the authorised NOHC; and
ensure that notice of the imposition, variation or revocation of the conditions is published in the Gazette.
The taking of an action is not invalid merely because of a failure to comply with subsection (3).
Part VI applies to the following decisions made under this section:
a decision to impose conditions, or additional conditions, on a NOHC authorisation;
a decision to vary conditions imposed on a NOHC authorisation.
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