Superannuation Industry (Supervision) Regulations 1994

PART 12 - PRE-1 JULY 1988 FUNDING CREDITS AND DEBITS  

REGULATION 12.14  

12.14   TRANSFER OF PJFCs - REVOCATION OF APPROVAL  
APRA may revoke an approval given under regulation 12.12 or 12.13 only if:

(a) information about matters relating to the application for approval that was not available to APRA when APRA made the decision to approve the application becomes available to APRA; and

(b) after considering that information, APRA is satisfied that:

(i) a requirement specified in regulation 12.15 (other than a requirement that does not need to be satisfied under paragraph 12.12(2)(b) or 12.13(2)(b) ) was not satisfied in relation to the transfer; or

(ii) in the case of a requirement that, under paragraph 12.12(2)(b) or 12.13(2)(b) , does not need to be satisfied - there were no special circumstances to justify the application of that paragraph.

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History

Reg 12.14 amended by SR No 193 of 1998, reg 42.1 and 42.2, by substituting ``APRA'' for ``The Commissioner'' and ``the Commissioner'' in para (a) and (b) (wherever occurring), effective 1 July 1998. For transitional provisions of SR No 199 of 1998 affecting the amendments made by SR No 193 of 1998, see history note under reg 1.04(2).

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