Superannuation Industry (Supervision) Act 1993

APRA must cancel the registration of a registrable superannuation entity if a document that:

is a reporting document within the meaning of the Financial Sector (Collection of Data) Act 2001; and

relates to the entity; and

was given to APRA under that Act;

APRA may cancel the registration of a superannuation entity that has become a self managed superannuation fund.

APRA may cancel the registration of a registrable superannuation entity if APRA is satisfied, on reasonable grounds, that:

the entity has no beneficiaries and no assets; and

there are no outstanding claims against the entity for benefits or other payments; and

other circumstances (if any) prescribed by regulations made for the purposes of this paragraph exist.

If APRA cancels the registration of a registrable superannuation entity under subsection (2), APRA must take all reasonable steps to ensure that the RSE licensee of the entity is given a notice:

stating that APRA has cancelled the registration of the entity; and

setting out the reasons for the cancellation;