Document ID: chunk:federal_register_of_legislation:F2017L01306:body:0:p3
Version: federal_register_of_legislation:F2017L01306
Segment Type: other
Provision Reference: 
Character Range: 5360–8119

particular information in its application where APRA considers that the information is not necessary for APRA to determine under section 11 of the Act whether to approve the body's application or perform any other function under the Act in relation to the application; or

       (c)         allow a body to supplement or vary information provided in or with the application (eg to alter the information provided under paragraph (g) of rule 7 to propose a new method of adoption of the transfer).

    7.      The first letter must be a joint letter to APRA from the transferring and receiving bodies, and must be signed by the CEO of each body and contain or attach the following information:

       (a)         the names of the transferring and receiving bodies and the ACN or ARBN of each body; and

       (b)         the proposed date of transfer; and

       (c)         whether the proposed transfer is a total or partial transfer; and

       (d)         if the proposed transfer is a partial transfer, a description of the assets and liabilities being transferred that meets the requirements of section 19 of the Act; and

       (e)         any statement to APRA in terms of subsection 20(1) of the Act which should include a statement describing the extent to which taxation liabilities of the transferring body will be transferred to the receiving body; and

       (f)          for each body, particulars of the way of adoption to be used and why it is appropriate for the particular transfer;  and

       (g)         if the proposed way of adoption in relation to a body is the usual way of adoption set out in rule 12, a draft of the information document (a draft information document) to be distributed to relevant members of the body for voting purposes (which must include the information set out in rule 8 and, before it can be sent to members, be approved by APRA under rule 9); and

       (h)         if the proposed way of adoption in relation to a body is not the usual way of adoption set out in rule 12, supporting reasons for this, including how it is proposed to take into account the interests of members (or relevant a class of members) of that body; and

       (i)           details of other regulatory approvals that may be required for the transfer; and

       (j)           details of how it is proposed to take into account the interests of policy owners, depositors, creditors or other investors; and

       (k)         any legal documentation relating to the proposal.

   Note 1  APRA will, in accordance with requirements of the Act, consult with the ATO (to ensure that the transfer will not breach a taxation law), the ACCC (to ensure that the transfer will not breach the Competition and Consumer Act 2010), ASIC