Document ID: chunk:federal_register_of_legislation:C2005C00502:clause:1_45
Version: federal_register_of_legislation:C2005C00502
Segment Type: clause
Provision Reference: sch 1 cl 45
Character Range: 54868–56133

45  When a disqualification may be revoked

 (1) APRA may revoke (in writing) a determination under section 44 disqualifying a person on its own initiative or on the application of the person.

 (2) If a person applies for a determination to be revoked, APRA must:
 (a) either revoke, or refuse to revoke, the determination; and
 (b) give the person written notice of the decision.

 (3) APRA must not revoke a determination disqualifying a person unless it is satisfied that the person:
 (a) is likely to carry out and perform adequately and properly the functions and duties of an appointed auditor or actuary (as the case may be) under this Act and the prudential standards; and
 (b) meets all of the criteria for fitness and propriety set out in the prudential standards; and
 (c) meets the eligibility criteria for such an appointment as set out in the prudential standards.

 (4) As soon as practicable after revoking a determination, APRA must give a copy of the revocation to the person to whom it relates.

 (5) If APRA refuses to revoke a determination, APRA must give written notice of the refusal, including the reasons for the refusal, to the person concerned.

 (6) Part VI applies to a refusal of APRA to revoke a determination under this section.