Document ID: chunk:federal_register_of_legislation:C2015A00087:clause:2_11
Version: federal_register_of_legislation:C2015A00087
Segment Type: clause
Provision Reference: sch 2 cl 11
Character Range: 65387–66415

11  Disqualified persons
(1) The Prudential Supervision Act has effect as if the definition of disqualified person in subsection 119(1) of that Act also included a person in relation to whom a disqualification under section 166‑20 of the PHI Act was in force immediately before the transition time.
(2) Subitem (1) ceases to apply if APRA revokes the disqualification under subitem (3).
(3) APRA may revoke the disqualification on application by the person or on its own initiative. A revocation takes effect on the day on which it is made.
(4) APRA must give the person written notice of a revocation of the disqualification, or of a refusal to revoke the disqualification. APRA may also give notice of the revocation or refusal in any other way that it considers appropriate.
(5) Section 168 of the Prudential Supervision Act (review of decisions) applies to a decision under this item to refuse to revoke the disqualification as if the decision were a reviewable decision as defined in that section.

Division 4—Enforcement