FIRST HOME SAVER ACCOUNTS ACT 2008 (REPEALED)
Subject to subsection (3), APRA may, in writing, cancel an authorisation as an FHSA provider.
Note:
In some circumstances, APRA must inform or consult ASIC before cancelling an authorisation (see section 108 ).
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.
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