Banking Act 1959
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Hide history noteA person affected by a reviewable decision of APRA who is dissatisfied with the decision may, by notice in writing given to APRA, within the period of 21 days after the day on which the decision first comes to the notice of the person, or within such further period as APRA allows, request APRA to reconsider the decision.
(2)
The request must set out the reasons for making the request.
(3)
Upon receiving the request, APRA must reconsider the decision and may, subject to subsection (4), confirm or revoke the decision or vary the decision in such manner as APRA thinks fit.
(4)
If APRA does not confirm, revoke or vary a decision before the end of the period of 21 days after the day on which APRA received the request under subsection (1) to reconsider the decision, APRA is taken, at the end of that period, to have confirmed the decision under subsection (3).
(5)
If APRA confirms, revokes or varies a decision before the end of the period referred to in subsection (4), APRA must, by notice served on the person who made the request:
(a) tell the person of the result of APRA's reconsideration of the decision; and
(b) set out the findings on material questions of fact; and
(c) refer to the evidence or other material on which those findings were based; and
(d) give APRA's reasons for confirming, revoking or varying the decision, as the case may be.
(6)
When APRA serves on a person a notice containing information of a kind mentioned in paragraph (5)(b) or (c), APRA may include in the notice conditions to be complied with in relation to the notice or any information disclosed in the notice.
(7)
A person commits an offence if the person fails to comply with a condition imposed under subsection (6).
Penalty: Imprisonment for 2 years.
(8)
Strict liability applies to the physical element of the offence in subsection (7) that the condition is imposed under subsection (6).
Note:
Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
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