Transfer of PJFCs—revocation of approval
12.14 Transfer of PJFCs—revocation of approval
APRA may revoke an approval given under regulation 12.12 or 12.13 only if:
information about matters relating to the application for approval that was not available to APRA when APRA made the decision to approve the application becomes available to APRA; and
after considering that information, APRA is satisfied that:
a requirement specified in regulation 12.15 (other than a requirement that does not need to be satisfied under paragraph 12.12(2)(b) or 12.13(2)(b)) was not satisfied in relation to the transfer; or
in the case of a requirement that, under paragraph 12.12(2)(b) or 12.13(2)(b), does not need to be satisfied—there were no special circumstances to justify the application of that paragraph.
This Act’s bill:Explanatory statement
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