Commonwealth Numbered Acts

SUPERANNUATION INDUSTRY (SUPERVISION) ACT 1993 No. 78, 1993 - SECT 28

28.(1) The Commissioner may revoke the approval of an approved trustee by
written notice given to the trustee.

(2) Without limiting subsection (1), the Commissioner may revoke an approval
under that subsection if the Commissioner is satisfied, on reasonable grounds,
that:

   (a)  there has been a contravention of any condition to which the approval
        is subject; or

   (b)  the trustee can no longer be relied on to perform, in a proper manner,
        the duties of trustee of each relevant entity of which the trustee is
        the trustee; or

   (c)  if subparagraph 26(1)(b)(i) applied to the approval of the
        trustee-that subparagraph has ceased to apply to the trustee; or

   (d)  if subparagraph 26(1)(b)(ii) applied to the approval of the
        trustee-that subparagraph has ceased to apply to the trustee; or

   (e)  if subparagraph 26(1)(b)(iii) applied to the approval of the
        trustee-the trustee has failed to comply with a requirement of the
        Commissioner under that subparagraph.

(3) The Commissioner must not make a decision under subsection (1) without the
written consent of the Minister.