Document ID: chunk:federal_register_of_legislation:C2004A00753:clause:3_12
Version: federal_register_of_legislation:C2004A00753
Segment Type: clause
Provision Reference: sch 3 cl 12
Character Range: 18507–19653

12  Subsections 92(6), (7), (8), (9), (10), (11) and (12)
Repeal the subsections, substitute:

Trustee's subsection 92(5) approval

 (6) When deciding whether or not to specify in a trustee's approval (under section 26) that the trustee is also approved for the purposes of subsection 92(5), APRA must have regard to any written guidelines determined by APRA under this subsection.

 (7) The approval of the trustee for the purposes of subsection 92(5) (the trustee's subsection 92(5) approval):
 (a) is subject to the conditions set out in the approval (if any); and
 (b) may be revoked by APRA by written notice given to the trustee.

 (8) Without limiting paragraph (7)(b), APRA may revoke a trustee's subsection 92(5) approval if:
 (a) APRA is satisfied that there has been a contravention of a condition to which the approval is subject; or
 (b) the trustee applies in writing for its revocation.

 (9) For the purposes of sections 27A, 27B, 27C, 27D, 27E and 29, the trustee's subsection 92(5) approval and any conditions to which it is subject are to be treated as conditions to which the trustee's approval under section 26 is subject.