Banking Act 1959
Part II
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Provisions relating to the carrying on of banking business
Division 2
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Protection of depositors
Subdivision B
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Provisions dealing with control of a body corporate
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s business by a Banking Act statutory manager
SECTION 14B
Administrator in control
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additional powers to recommend action by APRA
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) .
(2) Effect of recommendation
View history note
Hide history noteTypes 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) .
(2) Effect of recommendation
If an administrator of a body corporate ' s business makes a recommendation under this section, APRA must consider the recommendation but is not required to act on it.
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