Retirement Savings Accounts Act 1997

PART 3 - APPROVAL OF RSA INSTITUTIONS  

SECTION 28   APPLICATION FOR VARIATION OF AN APPROVAL  

28(1)   [Application to APRA]  

An RSA institution may apply to APRA for variation of the approval by requesting a variation of any conditions to which the approval is subject.

28(2)   [Form and manner of application]  

An application must:

(a) be made in writing; and

(b) specify the variation requested by the RSA institution; and

(c) set out the reasons for the application; and

(d) be signed by a responsible officer of the RSA institution.

28(3)   [Request for further information]  

If APRA needs further information to decide an application, APRA may request the RSA institution, in writing, to supply APRA with such further information as is specified in the request within such time as is specified in the request.

28(4)   [Failure to comply with request]  

If, without reasonable excuse, the RSA institution refuses or fails to comply with the request, APRA may decide to treat the application as having been withdrawn.

28(5)   [Notice that application deemed withdrawn]  

If APRA decides, under subsection (4), to treat the application as having been withdrawn, APRA must, as soon as practicable after so deciding, inform the RSA institution in writing to that effect.