Document ID: chunk:federal_register_of_legislation:C2004A00972:clause:4_25a
Version: federal_register_of_legislation:C2004A00972
Segment Type: clause
Provision Reference: sch 4 cl 25A
Character Range: 11212–12525

25A  APRA may disqualify person

 (1) APRA may disqualify a person if it is satisfied that the person is not a fit and proper person to be or to act as someone referred to in paragraph 24(1)(a), (b) or (c).

 (2) A disqualification takes effect on the day on which it is made.

 (3) APRA may revoke a disqualification on application by the disqualified 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 disqualification, revocation of a disqualification or a refusal to revoke a disqualification.

 (5) As soon as practicable after a notice is given to a person under subsection (4), APRA must cause particulars of the disqualification, revocation or refusal to which the notice relates:
 (a) to be given:
 (i) if the person is, or is acting as, a person referred to in paragraph 24(1)(a)—to the general insurer concerned; or
 (ii) if the person is, or is acting as, a person referred to in paragraph 24(1)(b)—to the foreign general insurer concerned; or
 (iii) if the person is, or is acting as, a person referred to in paragraph 24(1)(c)—to the authorised NOHC; and
 (b) to be published in the Gazette.

 (6) Part VI applies to a disqualification under this section or to a refusal to revoke such a disqualification.