Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.3B - CRISIS RESOLUTION FOR CS FACILITY LICENSEES  

Division 4 - Compulsory transfer of business or shares  

Subdivision A - Compulsory transfer of business or shares of body corporate in relation to CS facility licensee in crisis  

SECTION 837C   WHEN CONSENT OF RECEIVING BODY IS IN FORCE  

837C(1)    
The consent of the board of a receiving body referred to in paragraph 837A(1)(c) or (2)(f) or 837B(1)(c) or (2)(f) remains in force until it is withdrawn by the board with the written agreement of the Reserve Bank.

837C(2)    
The Reserve Bank may agree to the consent being withdrawn if the Reserve Bank reasonably believes that it is appropriate to allow the consent to be withdrawn, having regard to any of the following:

(a)    circumstances that have arisen since the consent was given;

(b)    circumstances that were in existence at or before the time when the consent was given but that were not known to the receiving body ' s board when it gave its consent;

(c)    any other relevant matter.