Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Act 2018 (10 of 2018)
Schedule 1 Amendment of the Banking Act 1959
Part 1 Main amendments
Banking Act 1959
146 Subsection 14B(1)
Repeal the subsection, substitute:
Types of recommendation
(1) An administrator of a body corporate's business may make any of the following recommendations to APRA, by instrument in writing given to APRA:
(a) that APRA make a particular direction under Division 1BA, subsection 14D(3) or section 29 in respect of the body corporate;
(b) that APRA apply for the body corporate to be wound up;
(c) if the body corporate is an ADI - that APRA revoke the ADI's section 9 authority;
(d) if the body corporate is an authorised NOHC - that APRA revoke the authorised NOHC's authority under subsection 11AA(2).