Document ID: chunk:federal_register_of_legislation:C2025C00165:section:11ca:p5
Version: federal_register_of_legislation:C2025C00165
Segment Type: section
Provision Reference: s 11CA (pt 5/6)
Character Range: 85812–88330

paragraph of that subsection.
 (2B) Without limiting the generality of paragraph (2)(r), a direction under that paragraph to a foreign ADI may be any one or more of the following:
 (a) a direction that the ADI act in a way so as to ensure that:
 (i) a particular asset, or a particular class of assets, of the ADI is returned to the control (however described) of the part of the ADI's banking business that is carried on in Australia; or
 (ii) a particular liability, or a particular class of liabilities, of the ADI ceases to be the responsibility (however described) of the part of the ADI's banking business that is carried on in Australia;
 (b) a direction that the ADI not act in a way that has the result that:
 (i) a particular asset, or a particular class of assets, of the ADI ceases to be under the control (however described) of the part of the ADI's banking business that is carried on in Australia; or
 (ii) a particular liability, or a particular class of liabilities, of the ADI becomes the responsibility (however described) of the part of the ADI's banking business that is carried on in Australia.
 (3) The direction may deal with the time by which, or period during which, it is to be complied with.
 (4) The body corporate has power to comply with the direction despite anything in its constitution or any contract or arrangement to which it is a party.
 (4A) If the direction requires the body corporate to cause a subsidiary to do, or to refrain from doing, an act or thing:
 (a) the body corporate has power to cause the subsidiary to do, or to refrain from doing, the act or thing; and
 (b) the subsidiary has power to do, or to refrain from doing, the act or thing;
despite anything in the subsidiary's constitution or any contract or arrangement to which the subsidiary is a party.
 (4B) APRA may, by notice in writing to the body corporate, vary the direction if, at the time of the variation, it considers that the variation is necessary and appropriate.
 (5) The direction has effect until APRA revokes it by notice in writing to the body corporate. APRA may revoke the direction if, at the time of revocation, it considers that the direction is no longer necessary or appropriate.
 (5A) Part VI applies to a decision to give a direction:
 (a) under subsection (1) as a result of the ground referred to in paragraph (1)(a), (b), (c), (d) or (e); or
 (b) under subsection (1AA) as a result of the ground referred to in paragraph (1AA)(a), (b), (c) or (d); or
 (c) under subsection (1AC) as