Document ID: chunk:federal_register_of_legislation:C2006C00145:clause:2_13
Version: federal_register_of_legislation:C2006C00145
Segment Type: clause
Provision Reference: sch 2 cl 13
Character Range: 68084–69212

13  ADI to supply information to APRA

APRA's power to obtain information

 (1) APRA may, by notice in writing to an ADI, require the ADI to supply it, within the time specified in the notice, with such information relating to the ADI's financial stability as is specified in the notice.

 (2) The information supplied in compliance with a requirement under subsection (1) must, if required by the notice, be verified by a statutory declaration made by an officer of the ADI concerned who is authorised by the ADI to make the declaration.

  Information to be supplied if ADI unable, or likely to be unable, to meet obligations

 (3) An ADI must immediately inform APRA if the ADI considers that it is likely to become unable to meet its obligations, or is about to suspend payment.

APRA's power to appoint an investigator if information not provided

 (4) APRA may appoint a person to investigate the affairs of an ADI if the ADI fails to comply with a requirement to provide information under this section.

Interpretation

 (5) In this section:

officer, in relation to an ADI, has the same meaning as in section 11CG.