Document ID: chunk:federal_register_of_legislation:C2025C00165:section:11ca:p1
Version: federal_register_of_legislation:C2025C00165
Segment Type: section
Provision Reference: s 11CA (pt 1/6)
Character Range: 76449–79082

11CA  APRA may give directions in certain circumstances
 (1) APRA may give a body corporate that is an ADI or an authorised NOHC a direction of a kind specified in subsection (2) if APRA has reason to believe that:
 (a) the body corporate has contravened a provision of:
 (i) this Act; or
 (ii) the Financial Sector (Collection of Data) Act 2001; or
 (b) the body corporate has contravened a prudential requirement regulation or a prudential standard; or
 (c) the body corporate is likely to contravene this Act, a prudential requirement regulation, a prudential standard or the Financial Sector (Collection of Data) Act 2001, and the direction is reasonably necessary for one or more prudential matters relating to the body corporate; or
 (d) the body corporate has contravened a condition or direction under this Act or the Financial Sector (Collection of Data) Act 2001; or
 (e) the direction is necessary in the interests of:
 (i) if the body corporate is an ADI—depositors of the ADI; or
 (ii) if the body corporate is an authorised NOHC—depositors of any ADI that is a subsidiary of the NOHC; or
 (f) the body corporate is, or is about to become, unable to meet its liabilities; or
 (g) there is, or there might be, a material risk to the security of the body corporate's assets; or
 (h) there has been, or there might be, a material deterioration in the body corporate's financial condition; or
 (i) the body corporate is conducting its affairs in an improper or financially unsound way; or
 (j) the failure to issue a direction would materially prejudice the interests of:
 (i) if the body corporate is an ADI—depositors of the ADI; or
 (ii) if the body corporate is an authorised NOHC—depositors of any ADI that is a subsidiary of the NOHC; or
 (k) the body corporate is conducting its affairs in a way that may cause or promote instability in the Australian financial system.
 (1AA) APRA may give a body corporate that is an ADI or is an authorised NOHC a direction of a kind specified in subsection (2) if APRA has reason to believe that:
 (a) a subsidiary of the body corporate has contravened a provision of:
 (i) this Act; or
 (ii) the Financial Sector (Collection of Data) Act 2001; or
 (b) a subsidiary of the body corporate has contravened a prudential requirement regulation or a prudential standard; or
 (c) a subsidiary of the body corporate is likely to contravene this Act, a prudential requirement regulation, a prudential standard or the Financial Sector (Collection of Data) Act 2001; or
 (d) the direction is in respect of a subsidiary of the body corporate and is necessary in the interests of:
 (i) if the