FIRST HOME SAVER ACCOUNTS ACT 2008 (REPEALED)
APRA must grant an authorisation as an FHSA provider to an applicant if, and only if:
(a) APRA has no reason to believe that the applicant would fail to comply with this Act, the regulations or the Prudential Standards if the authorisation were granted; and
(b) APRA has no reason to believe that the applicant would fail to comply with any condition imposed on the authorisation if it were granted; and
(c) the application complies with section 89 ; and
(d) APRA is satisfied that the applicant holds an RSE licence of a class that would enable it to be a trustee of a public offer entity; and
(e) APRA is satisfied that the applicant meets the capital requirements under section 93 ; and
(f) the application has not been withdrawn, treated as withdrawn under subsection 90(2) or taken to have been refused under subsection 91(4) .
Note:
Conditions apply to every authorisation as an FHSA provider. See Subdivision C .
92(2)
Otherwise APRA must refuse the application.
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