Document ID: chunk:federal_register_of_legislation:C2025C00134:section:29g
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 29G
Character Range: 171479–172663

29G  Cancellation of RSE licences
 (1) APRA may, in writing, cancel an RSE licence.
Note: In some circumstances, APRA must inform or consult ASIC (see section 29GA).
 (2) Without limiting subsection (1), APRA may cancel an RSE licence under that subsection if:
 (a) the RSE licensee has requested, in the approved form, that the licence be cancelled; or
 (b) the RSE licensee is a body corporate and is a disqualified person for the purposes of Part 15; or
 (c) the RSE licensee has breached a condition imposed on the licence; or
 (d) APRA has reason to believe that the RSE licensee will breach a condition imposed on the licence; or
 (e) the RSE licensee has failed to comply with a direction by APRA under subsection 131D(1) or 131DA(1); or
 (f) APRA has reason to believe that the RSE licensee will fail to comply with a direction by APRA under subsection 131D(1) or 131DA(1).
 (4) If APRA cancels an RSE licence it must take all reasonable steps to ensure that the body corporate or a member of the group that held the RSE licensee is given a notice informing the body corporate or group:
 (a) that APRA has cancelled the licence; and
 (b) of the reasons for the cancellation.