Delegate’s decision to extend time for providing actuary’s report
49H Delegate’s decision to extend time for providing actuary’s report
If a delegate of APRA decides to allow, or refuse to allow, further time under paragraph 49E(6)(b), the general insurer concerned may request that APRA reconsider the delegate’s decision.
The request must:
be in writing and include the reasons for making the request; and
be made within 7 days after the day on which the insurer is notified of the decision.
Within 7 days of receiving the request, APRA must reconsider the decision and may confirm, revoke or vary the decision. APRA must give written notice to the insurer of the result of the reconsideration.
If APRA does not confirm, revoke or vary the decision before the end of the 7 day period, APRA is taken to have confirmed the decision.
Part VI applies to a decision by APRA under subsection (3) or (4) to confirm or vary a delegate’s decision.
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.