FIRST HOME SAVER ACCOUNTS ACT 2008 (REPEALED)

PART 7 - PRUDENTIAL PROVISIONS  

Division 1 - Authorisation of RSE licensees as FHSA providers  

Subdivision E - Cancelling authorisation as FHSA provider  

SECTION 107   Cancellation of authorisation as FHSA provider  

107(1)    
Subject to subsection (3), APRA may, in writing, cancel an authorisation as an FHSA provider.

Note:

107(2)    
Without limiting subsection (1), APRA may cancel an authorisation as an FHSA provider under that subsection if:

(a) the FHSA provider has requested, in the approved form, that the authorisation be cancelled; or

(b) the FHSA provider is a disqualified person for the purposes of Part 15 of the Superannuation Industry (Supervision) Act 1993 (as that Part applies under subsection 114(2) ); or

(c) the FHSA provider has breached a condition imposed on the authorisation; or

(d) APRA has reason to believe that the FHSA provider will breach a condition imposed on the authorisation; or

(e) the FHSA provider has failed to comply with a direction by APRA under section 99 ; or

(f) APRA has reason to believe that the FHSA provider will fail to comply with a direction by APRA under section 99 .

107(3)    
If APRA cancels an authorisation as an FHSA provider it must take all reasonable steps to ensure that the FHSA provider is given a notice informing it:

(a) that APRA has cancelled the authorisation; and

(b) of the reasons for the cancellation.