Commonwealth Consolidated Acts

FINANCIAL SECTOR (TRANSFER AND RESTRUCTURE) ACT 1999 - SECT 26

  (1)   In deciding whether to make a compulsory transfer determination, APRA may consult with any or all of the following:

  (a)   officers or employees of the States and Territories;

  (b)   the Reserve Bank of Australia;

  (c)   any other person or body that APRA considers should be consulted.

  (2)   Subject to subsections   (3) and (4), in deciding whether to make a compulsory transfer determination, APRA must consult with:

  (a)   the Australian Competition and Consumer Commission; and

  (b)   the Australian Securities and Investments Commission.

  (3)   APRA does not have to consult with the Australian Competition and Consumer Commission in relation to the making of a compulsory transfer determination if the Commission has notified APRA, in writing, that it does not wish to be consulted about:

  (a)   the transfer concerned; or

  (b)   a class of transfers that includes that transfer.

  (4)   APRA does not have to consult with the Australian Securities and Investments Commission in relation to the making of a compulsory transfer determination if the Commission has notified APRA, in writing, that it does not wish to be consulted about:

  (a)   the transfer concerned; or

  (b)   a class of transfers that includes that transfer.