Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Minister must, in writing, issue a restructure approval if the Minister is satisfied that:
(a) application for the approval has been made by an operating body in accordance with section 36B; and
(b) the restructure arrangement would improve the operating body's ability to meet its prudential requirements; and
(c) the approval should be issued, having regard to:
(i) the interests of the depositors or policy owners of the operating body; and
(ii) the interests of the financial sector as a whole; and
(iii) any other matters considered relevant.
(2) The approval must include the following:
(a) a statement describing the restructure arrangement;
(b) the restructure instrument;
(c) any conditions imposed under section 36E.
(3) The approval authorises APRA to issue one or more internal transfer certificates under section 36M.
(4) In this section:
"prudential requirements" , in relation to an operating body, means requirements applying to the body under the following prudential standards determined by APRA:
(a) if the body is an ADI--standards in force under section 11AF of the Banking Act 1959 ;
(b) if the body is a life insurance company--standards in force under section 230A of the Life Insurance Act 1995 ;
(c) if the body is a general insurer--standards in force under section 32 of the Insurance Act 1973 .