Document ID: chunk:federal_register_of_legislation:C2018A00010:clause:1_11aaa
Version: federal_register_of_legislation:C2018A00010
Segment Type: clause
Provision Reference: sch 1 cl 11AAA
Character Range: 12257–13301

11AAA  Conditions on an authority
 (1) APRA may, at any time, by giving written notice to a body corporate:
 (a) impose conditions, or additional conditions, on the body corporate's NOHC authority; or
 (b) vary or revoke conditions imposed on the body corporate's NOHC authority.
The conditions must relate to prudential matters.
 (2) A condition may be expressed to have effect despite anything in the prudential standards or the regulations.
 (3) If APRA imposes, varies or revokes the conditions on a body corporate's NOHC authority, APRA must:
 (a) give written notice to the body corporate; and
 (b) ensure that notice that the action has been taken is published in the Gazette.
 (4) The taking of an action is not invalid merely because of a failure to comply with subsection (3).
 (5) Part VI applies to the following decisions made under this section:
 (a) a decision to impose conditions, or additional conditions, on a body corporate's NOHC authority;
 (b) a decision to vary conditions imposed on a body corporate's NOHC authority.