Superannuation Industry (Supervision) Act 1993

PART 25 - MONITORING AND INVESTIGATION  

Division 3 - APRA may require trustee of superannuation entity to appoint an individual, or a committee, to investigate the financial position of the entity  

SECTION 257   INVESTIGATION OF FINANCIAL POSITION OF SUPERANNUATION ENTITY  

257(1)   [APRA requirement]  

APRA may, by written notice given to a trustee of a superannuation entity, require the trustee, or the trustees, of the entity to appoint an individual, or a committee of individuals, to:

(a) carry out an investigation of the whole or a specified part of the financial position of the entity as at a specified time or in relation to a specified period; and

(b) make a report on that investigation.

257(2)   [Copy of notice]  

Each trustee of the entity must ensure that a copy of the notice is given to the individual or to each member of the committee (whichever is relevant) within 3 days of the appointment of the individual or member.