Document ID: chunk:federal_register_of_legislation:C2025C00134:section:131da:p2
Version: federal_register_of_legislation:C2025C00134
Segment Type: section
Provision Reference: s 131DA (pt 2/3)
Character Range: 749044–751634

connected entity of an RSE licensee a direction of a kind mentioned in subsection (5) if:
 (a) APRA has given the RSE licensee a direction under subsection (1) because one or more of the grounds referred to in that subsection have been satisfied in respect of the connected entity; or
 (b) APRA may give the RSE licensee a direction under subsection (1) because one or more of the grounds referred to in that subsection have been satisfied in respect of the connected entity.
 (4) APRA cannot give a direction under subsection (3) to a connected entity of a kind specified in regulations (if any) made for the purposes of this subsection.
 (5) APRA may give a direction to do one or more of the following:
 (a) to comply with the whole or a part of:
 (i) this Act; or
 (ii) the regulations; or
 (iii) the prudential standards; or
 (iv) the Financial Sector (Collection of Data) Act 2001;
 (b) if the connected entity is a body corporate:
 (i) to remove a responsible officer of the entity from office; or
 (ii) to ensure that a responsible officer of the entity does not take part in the management or conduct of the business of the entity (including any business the entity conducts in relation to a registrable superannuation entity of the RSE licensee) except as permitted by APRA; or
 (iii) to appoint a person as a responsible officer of the entity for such term as APRA directs;
 (c) to order an audit of:
 (i) the affairs of the connected entity; or
 (ii) the affairs of a registrable superannuation entity of the RSE licensee;
  at the expense of the connected entity, by an auditor chosen by APRA;
 (d) to:
 (i) remove from office an auditor of the connected entity, or of a registrable superannuation entity of the RSE licensee; and
 (ii) appoint another auditor to hold office for such term as APRA directs;
 (e) to order an actuarial investigation of the affairs of a registrable superannuation entity of the RSE licensee, at the expense of the connected entity and by an actuary chosen by APRA;
 (f) to:
 (i) remove from office an actuary of a registrable superannuation entity of the RSE licensee; and
 (ii) appoint another actuary to hold office for such term as APRA directs;
 (g) not to borrow any amount;
 (h) not to pay or transfer any amount or asset to any person, or create an obligation (contingent or otherwise) to do so;
 (i) not to undertake any financial obligation (contingent or otherwise) on behalf of any other person;
 (j) not to discharge any liability of one or more of the following:
 (i) the connected entity;
 (ii) a registrable superannuation entity of