Retirement Savings Accounts Act 1997

PART 3 - APPROVAL OF RSA INSTITUTIONS  

SECTION 31   NOTIFYING THE RSA INSTITUTION OF THE OUTCOME OF AN APPLICATION  

31(1)   [Notice of variation]  

If, under section 29 or 30, APRA decides to vary the approval of an RSA institution, APRA must:

(a) by notice in writing, vary the approval; and

(b) give a copy of that notice, and a statement of the reasons for the variation, to the RSA institution.

31(2)   [Contents of notice]  

A notice varying an approval must:

(a) identify the approval being varied; and

(b) specify the day, not earlier than the day on which the notice of variation is made, when the variation begins; and

(c) specify any conditions to which the approval of the RSA institution is subject after the variation begins.

31(3)   [Notice of refusal to vary]  

If, under section 29 , APRA decides to refuse to vary the approval of an RSA institution, APRA must:

(a) by notice in writing, record that it has so decided; and

(b) give a copy of that notice, and a statement of the reasons for the refusal to vary the approval, to the RSA institution.