Document ID: chunk:federal_register_of_legislation:C2004C01110:clause:4_125b
Version: federal_register_of_legislation:C2004C01110
Segment Type: clause
Provision Reference: sch 4 cl 125B
Character Range: 192505–193676

125B  APRA's power to make class exemption orders

 (1) In this section:

provision to which this section applies means:
 (a) section 76;
 (b) section 82;
 (c) section 83;
 (d) section 93;
 (e) section 113;
 (f) any other provision of this Part prescribed by the regulations for the purposes of this definition.

 (2) APRA may make an order in writing in respect of a specified class of life companies relieving any of the following from a provision to which this section applies:
 (a) directors of life companies of that class;
 (b) life companies of that class;
 (c) approved auditors of life companies of that class;
 (d) appointed actuaries of life companies of that class.

 (3) APRA must not make the order unless it considers it is appropriate to do so, having regard to any criteria specified in Prudential Rules for the purposes of this subsection.

 (4) The order may:
 (a) be expressed to be subject to conditions; and
 (b) be indefinite or limited to a specified period.

 (5) Notice of the making, revocation or suspension of the order must be published in the Gazette.

 (6) APRA must give ASIC notice of the making, revocation or suspension of the order.