Administrator in control—additional powers to recommend action by APRA
62ZOJ Administrator in control—additional powers to recommend action by APRA
Types of recommendation
An administrator of a body corporate’s business may make any of the following recommendations to APRA, by instrument in writing given to APRA:
that APRA make a particular direction under subsection 62ZOM(3) or Division 2 of Part IX in respect of the body corporate;
that APRA apply for the body corporate to be wound up;
if the body corporate is a general insurer—that APRA revoke the general insurer’s authorisation under section 12;
if the body corporate is an authorised NOHC—that APRA revoke the authorised NOHC’s authorisation under section 18.
Effect of recommendation
If an administrator of a body corporate’s business makes a recommendation under this section, APRA must consider the recommendation but is not required to act on it.
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