Document ID: chunk:federal_register_of_legislation:C2023A00068:clause:2_9
Version: federal_register_of_legislation:C2023A00068
Segment Type: clause
Provision Reference: sch 2 cl 9
Character Range: 38555–39156

9  Disqualification under FAR for non‑compliance with BEAR
 APRA may, after the banking start time, disqualify a person under section 42 of the FAR Act from being, or acting as, an accountable person if APRA is satisfied that:
 (a) the person has failed to comply with one or more of their obligations under section 37CA of the old Banking Act; and
 (b) the disqualification is justified, having regard to the seriousness of the failure to comply.
Note: A decision to disqualify a person is a reviewable decision under Part 5 of Chapter 3 of the FAR Act.

Division 2—Deferred remuneration obligations