FIRST HOME SAVER ACCOUNTS ACT 2008 (REPEALED)
PART 7
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PRUDENTIAL PROVISIONS
Division 1
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Authorisation of RSE licensees as FHSA providers
Subdivision E
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Cancelling authorisation as FHSA provider
SECTION 108
Cancellation of authorisation for FHSA provider that is financial services licensee
108(1)
Before cancelling the authorisation as an FHSA provider of an FHSA provider that is also a financial services licensee, APRA must consult ASIC if, in APRA ' s opinion, the cancellation might reasonably be expected to affect the FHSA provider ' s ability to provide one or more of the financial services (within the meaning of the Corporations Act 2001 ) that the FHSA provider provides.
108(2)
If APRA cancels the authorisation as an FHSA provider of an FHSA provider that is also a financial services licensee, APRA must inform ASIC of the cancellation within one week after the cancellation.
108(3)
A failure to comply with a requirement of this section does not affect the validity of the cancellation of an authorisation as an FHSA provider.
Before cancelling the authorisation as an FHSA provider of an FHSA provider that is also a financial services licensee, APRA must consult ASIC if, in APRA ' s opinion, the cancellation might reasonably be expected to affect the FHSA provider ' s ability to provide one or more of the financial services (within the meaning of the Corporations Act 2001 ) that the FHSA provider provides.
108(2)
If APRA cancels the authorisation as an FHSA provider of an FHSA provider that is also a financial services licensee, APRA must inform ASIC of the cancellation within one week after the cancellation.
108(3)
A failure to comply with a requirement of this section does not affect the validity of the cancellation of an authorisation as an FHSA provider.
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