Document ID: chunk:federal_register_of_legislation:C2018A00005:clause:1_37aa
Version: federal_register_of_legislation:C2018A00005
Segment Type: clause
Provision Reference: sch 1 cl 37AA
Character Range: 7098–7930

37AA  Inconsistency with corresponding foreign laws
 (1) If APRA is satisfied that an ADI would contravene a law of a foreign country if the ADI were to comply with a particular obligation under section 37, APRA:
 (a) may give to the ADI a written notice specifying that obligation; and
 (b) may specify in the notice:
 (i) the extent to which the ADI need not comply with that obligation; and
 (ii) conditions to which the notice is subject.
 (2) An ADI is not required to comply with that obligation:
 (a) to the extent compliance would result in the ADI contravening that law of a foreign country; or
 (b) if the notice specifies the extent to which the ADI need not comply with that obligation—to the extent so specified;
if the conditions (if any) specified in the notice are complied with.

Subdivision B—Accountable persons