Powers of Minister
54DE Powers of Minister
(1) The Minister may, in accordance with a regulation, take any of the following actions in relation to an approved scheme:
(a) require the trustees of the scheme to comply with a provision of the prudential standards;
(b) require the trustees of the scheme to give the Minister information relevant to the operation and management of the scheme;
suspend the approval of the scheme;
cancel the approval of the scheme.
(2) A regulation may deal with the procedures for subsection (1) and the consequences of a failure by the trustees to comply with a requirement of the Minister.
This provision refers to the regulations (a regulation
). Made under this Act:
This Act’s bill:Second reading speech
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