Document ID: chunk:federal_register_of_legislation:C2020A00135:clause:12_55b
Version: federal_register_of_legislation:C2020A00135
Segment Type: clause
Provision Reference: sch 12 cl 55B
Character Range: 217439–218220

55B  APRA must comply with request
 (1) If ASIC gives APRA a request under section 55A, APRA must comply with the request as soon as practicable.
 (2) APRA need not notify any person (other than ASIC) that it plans to comply with subsection (1), or has complied with that subsection.
 (3) Despite subsection (1), APRA need not comply with the request if:
 (a) the Chair makes a determination under subsection (4); and
 (b) the Chair gives a copy of the determination to ASIC.
 (4) The Chair may determine, in writing, that APRA need not comply with the request if the Chair considers that complying with the request would compromise the proper functioning of APRA.
 (5) The Chair's power to make a determination under subsection (4) may only be exercised by the Chair personally.