Document ID: chunk:federal_register_of_legislation:C2018A00009:clause:2_3
Version: federal_register_of_legislation:C2018A00009
Segment Type: clause
Provision Reference: sch 2 cl 3
Character Range: 16044–17418

3  After subsection 7(1)
Insert:
 (1A) For the purposes of paragraph (1)(b), APRA may:
 (a) make a determination in writing specifying a particular corporation or corporations;
 (b) make a determination in writing specifying a class of corporations or classes of corporations.
 (1B) A determination made under paragraph (1A)(a) is not a legislative instrument.
 (1C) A determination made under paragraph (1A)(b) is a legislative instrument.
 (1D) Before making a determination under paragraph (1A)(a) or (b), APRA must consider:
 (a) in the case of a determination under paragraph (1A)(a)—whether the corporation or each of the corporations specified in the determination has business activities in Australia that include the provision of finance; or
 (b) in the case of a determination under paragraph (1A)(b)—whether each corporation in the class of corporations or classes of corporations specified in the determination has business activities in Australia that include the provision of finance.
 (1E) A failure to comply with subsection (1D) does not affect the validity of the determination.
 (1F) As soon as practicable after making a determination under paragraph (1A)(a), APRA must give a copy of the determination to each corporation specified in the determination.
 (1G) A failure to comply with subsection (1F) does not affect the validity of the determination.