Document ID: chunk:federal_register_of_legislation:C2025C00134:section:131d:p1
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 131D (pt 1/3)
Character Range: 741085–743719

131D  APRA may give directions to an RSE licensee in relation to licensee's own conduct
 (1) APRA may give an RSE licensee a direction of a kind mentioned in subsection (2) if APRA has reason to believe that:
 (a) the RSE licensee has contravened a provision of:
 (i) this Act; or
 (ii) the regulations; or
 (iii) the prudential standards; or
 (iv) the Financial Sector (Collection of Data) Act 2001; or
 (v) Chapter 2M of the Corporations Act 2001; or
 (b) the RSE licensee is likely to contravene a provision mentioned in paragraph (a), and the direction is reasonably necessary to deal with one or more prudential matters in relation to the RSE licensee; or
 (c) the RSE licensee has contravened a condition or direction under this Act or the Financial Sector (Collection of Data) Act 2001; or
 (ca) the RSE licensee, or the registrable superannuation entity of the RSE licensee, has failed to meet a benchmark that relates to the licensee or entity; or
 (d) the direction is necessary in the interests of beneficiaries of a registrable superannuation entity of the RSE licensee; or
 (e) the RSE licensee is, or is about to become, unable to meet its liabilities (whether as trustee of a registrable superannuation entity or otherwise); or
 (f) there is, or there might be, a material risk to the security of the assets of the RSE licensee (whether held as trustee of a registrable superannuation entity or otherwise); or
 (g) there has been, or there might be, a material deterioration in the financial condition of:
 (i) the RSE licensee; or
 (ii) a registrable superannuation entity of which it is trustee; or
 (h) the RSE licensee is conducting:
 (i) its affairs; or
 (ii) the affairs of a registrable superannuation entity of which it is trustee;
  in an improper or financially unsound way; or
 (i) the failure to issue a direction would materially prejudice the interests or reasonable expectations of beneficiaries of a registrable superannuation entity of the RSE licensee; or
 (j) the RSE licensee is conducting:
 (i) its affairs; or
 (ii) the affairs of a registrable superannuation entity of which it is trustee;
   in a way that may cause or promote instability in the Australian financial system.
 (2) APRA may give a direction to do one or more of the following:
 (a) to comply with the whole or a part of:
 (i) this Act; or
 (ii) the regulations; or
 (iii) the prudential standards; or
 (iv) the Financial Sector (Collection of Data) Act 2001;
 (b) to comply with the whole or a part of a condition or direction referred to in paragraph (1)(c);
 (c) if the RSE licensee is a body corporate, to do one or more of the