Document ID: chunk:federal_register_of_legislation:C2005C00502:clause:1_22
Version: federal_register_of_legislation:C2005C00502
Segment Type: clause
Provision Reference: sch 1 cl 22
Character Range: 32497–33199

22  When APRA must revoke a NOHC authorisation

 (1) APRA must revoke (in writing) a body corporate's NOHC authorisation if:
 (a) the body corporate asks (in writing) APRA to do so; and
 (b) APRA is satisfied that revoking the authorisation would not be contrary to either:
 (i) the national interest; or
 (ii) the interests of the policyholders of any general insurer who is a subsidiary of the body corporate.

 (2) If APRA revokes a body corporate's NOHC authorisation, APRA must:
 (a) give written notice to the body corporate; and
 (b) ensure that notice of the revocation is published in the Gazette.

 (3) A revocation is not invalid merely because of a failure to comply with subsection (2).