Document ID: chunk:federal_register_of_legislation:C2006C00145:clause:2_14b
Version: federal_register_of_legislation:C2006C00145
Segment Type: clause
Provision Reference: sch 2 cl 14B
Character Range: 76346–77160

14B  Administrator in control—additional powers to recommend action by APRA

Types of recommendation

 (1) An administrator of an ADI's business may make any of the following recommendations to APRA, by instrument in writing given to APRA:
 (a) that APRA make a particular direction under Division 1BA in respect of the ADI;
 (b) if the administrator considers that the ADI is insolvent and could not be restored to solvency within a reasonable period:
 (i) that APRA apply under section 14F to the Federal Court of Australia for an order that the ADI be wound up; or
 (ii) that APRA revoke the ADI's section 9 authority.

Effect of recommendation

 (2) If an administrator of an ADI's business makes a recommendation under this section, APRA must consider the recommendation but is not required to act on it.