Document ID: chunk:federal_register_of_legislation:C2025C00165:section:63:p2
Version: federal_register_of_legislation:C2025C00165
Segment Type: section
Provision Reference: s 63 (pt 2/2)
Character Range: 351026–352506

under this section and section 64 to:
 (a) APRA, an APRA member or an APRA staff member; or
 (aa) ASIC, a member of ASIC or a staff member (as defined in subsection 5(1) of the Australian Securities and Investments Commission Act 2001) only in the case of a demutualisation of an ADI; or
 (b) an officer of the Department.
 (6) A reference in this section to a reconstruction of an ADI includes a reference to a demutualisation of an ADI.
 (7) The regulations may define the meaning of demutualisation for the purposes of this section. If the regulations do so, demutualisation has, in this section, the meaning given by the regulations.
 (8) The Treasurer may, by legislative instrument, determine guidelines as to acceptable standards of disclosure of information by an ADI (other than a foreign ADI) to its members in respect of a proposed demutualisation of the ADI.
 (9) The Treasurer must consider whether an ADI has complied with the guidelines (if any) in deciding whether to give a consent, for the purposes of paragraph (1)(b), to the ADI effecting a demutualisation.
 (10) In making a determination under subsection (8), the Treasurer must consult with APRA and ASIC.
 (12) Subsections (6) to (11) do not limit the generality of the rest of this section. In particular, those subsections do not limit the matters that the Treasurer may take into account in deciding whether to give a consent, for the purposes of paragraph (1)(b), to an ADI effecting a demutualisation.