Commonwealth Consolidated Acts

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SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 259

APRA may veto appointment of investigator or investigators

  (1)   Each trustee of the entity must ensure that, within 7 days after the date on which the notice was given, APRA is advised, in writing, of the name of the person or persons appointed.

  (2)   If APRA notifies a trustee of the entity that the person is, or any or all of the persons are, not acceptable to APRA, the trustee, or trustees, of the entity must, within 7 days after the date on which the notice was given:

  (a)   appoint a different individual or individuals; and

  (b)   advise APRA, in writing, of the name of the individual or individuals so appointed.

  (3)   APRA may, within 7 days after the advice was given under subsection   (1) or (2), notify a trustee of the entity, in writing, that the person is, or that any or all of the persons are, not acceptable to APRA.


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