Document ID: chunk:federal_register_of_legislation:C2010C00224:clause:1_3
Version: federal_register_of_legislation:C2010C00224
Segment Type: clause
Provision Reference: sch 1 cl 3
Character Range: 19687–22307

3                                                                                  an order made under section 21                                            paragraph 22(1)(a) and subsection 22(2)  a disqualification made under section 21 that is continued in force under subitem (1)

(3) Section 21 of the Banking Act 1959 (as in force immediately after this item commences) applies in relation to any conduct engaged in by a person, whether before or after this item commences.

Waivers of disqualifications

(4) If:
 (a) a person applies to APRA for a determination under section 22 of the Banking Act 1959 that the person is not a disqualified person; and
 (b) APRA has not made a decision on the application at the time this item commences;
the application is taken to be withdrawn at that time.

Note: See subitem (7) for the treatment of a decision by APRA under section 22 of the Banking Act 1959 in respect of which review proceedings are on foot at commencement.

(5) A determination under section 22 of the Banking Act 1959 that is in force immediately before this item commences continues in force after that time. However, APRA may not revoke the determination.

(6) If:
 (a) a determination in relation to a person continues in force under subitem (5); and
 (b) after this item commences, an order is made under section 21 of the Banking Act 1959 (as in force at that time) that the person is disqualified from being or acting as a person referred to in subsection 21(2) of that Act;
the determination ceases to be in force.

Review proceedings on foot at commencement

(7) The amendments to the Banking Act 1959 made by this Schedule do not affect:
 (a) any request, in relation to a decision made under section 21 or 22 of that Act, for a review that is pending under section 51B of that Act immediately before the commencement of this item; or
 (b) any proceeding, in relation to a decision under section 21 or 22 of that Act that has been confirmed or varied under subsection 51B(3) of that Act, that is pending before the Administrative Appeals Tribunal immediately before the commencement of this item; or
 (c) any appeal to a court in relation to a proceeding referred to in paragraph (b).

(8) If a disqualification by APRA under section 21, or a determination under section 22, of the Banking Act 1959 is confirmed or varied as a result of a request, proceeding or appeal referred to in subitem (7), the disqualification or determination is, for the purposes of subitem (1) or (5) (as the case requires), taken to have been in force immediately before this item commences.

Insurance Act 1973