Superannuation Industry (Supervision) Act 1993

APRA must decide an application for an RSE licence within 90 days after receiving it, unless APRA extends the period for deciding the application under subsection (2).

APRA may extend the period for deciding the application by up to 30 days if APRA informs the body corporate, or a member of the group, that made the application of the extension:

in writing; and

within 90 days after receiving the application.

If APRA extends the period for deciding the application, it must decide the application within the extended period.

If APRA has not decided the application by the end of the period by which it is required to decide the application, APRA is taken to have decided, at the end of the last day of that period, to refuse the application.