Commonwealth Consolidated Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 - SECT 29FB

  (1)   APRA must decide an application under section   29F within 60 days of receiving the application, unless APRA extends the period for deciding the application under subsection   (2).

  (2)   APRA may extend the period for deciding an application under section   29F by up to 60 days if APRA informs the RSE licensee of the extension:

  (a)   in writing; and

  (b)   within 60 days of receiving the application.

  (3)   If APRA extends the period for deciding an application under section   29F, it must decide the application within the extended period.

  (4)   If APRA has not decided an application under section   29F by the end of the period by which it is required to decide the application, APRA is taken to have decided, at the end of the last day of that period, to refuse the application.