Document ID: chunk:federal_register_of_legislation:C2005C00502:clause:1_44
Version: federal_register_of_legislation:C2005C00502
Segment Type: clause
Provision Reference: sch 1 cl 44
Character Range: 53772–54868

44  Disqualification of a person as an auditor or actuary

 (1) APRA may determine (in writing) that:
 (a) a person is disqualified from holding any appointment as an auditor of a general insurer; or
 (b) a person is disqualified from holding any appointment as an actuary of a general insurer.

 (2) APRA may only do so if the person:
 (a) has failed to perform adequately and properly the functions and duties of such an appointment under this Act or the prudential standards; or
 (b) otherwise does not meet one or more of the criteria for fitness and propriety set out in the prudential standards; or
 (c) does not meet the eligibility criteria for such an appointment as set out in the prudential standards.

 (3) A determination takes effect on the day specified in it. That day must be no more than 28 days after the determination is made.

 (4) As soon as practicable after making a determination disqualifying a person, APRA must give a copy of the determination to the person and any affected general insurer.

 (5) Part VI applies to a determination made by APRA under this section.