Document ID: chunk:federal_register_of_legislation:C2015A00087:clause:2_12
Version: federal_register_of_legislation:C2015A00087
Segment Type: clause
Provision Reference: sch 2 cl 12
Character Range: 66415–68634

12  Investigations

Continuation of investigations in progress under PHI Act at the transition time
(1) If an investigation commenced by the Council under Division 194 of the PHI Act before the transition time has not been completed by that time, then Division 194 of the PHI Act, as in force immediately before the transition time, is taken to continue to apply in relation to the investigation (despite the amendments of that Division made by this Act), as if:
 (a) references in the Division to the Council (other than references that are to a Council‑supervised obligation) were instead references to APRA; and
 (b) a thing done, by or in relation to the Council, under a provision of the Division before the transition time had been done, by or in relation to APRA, under that provision.
(2) If an investigation commenced by the Council under Division 214 of the PHI Act before the transition time has not been completed by that time, then Division 214 of the PHI Act, as in force immediately before the transition time, is taken to continue to apply in relation to the investigation (despite the repeal of that Division by this Act), as if:
 (a) references in the Division to the Council were instead references to APRA; and
 (b) a thing done, by or in relation to the Council, under a provision of the Division before the transition time had been done, by or in relation to APRA, under that provision.
(3) Without limiting subitem (2), an appointment of an inspector under subsection 214‑1(1) of the PHI Act that is in force immediately before the transition time has effect, after the transition time, as if it were an appointment of the inspector by APRA under that subsection as it continues to apply because of subitem (2).
(4) Rules made under item 43 may make provision for or in relation to how an investigation to which subitem (1) or (2) applies is to continue after the transition time.

Use of powers in Prudential Supervision Act to investigate breaches of Council‑supervised obligations
(5) Division 3 of Part 6 of the Prudential Supervision Act has effect as if the reference in paragraph 130(1)(b) of that Act to an enforceable obligation included a reference to a Council‑supervised obligation.