Commonwealth Consolidated Acts

BANKING ACT 1959 - SECT 14B

Types of recommendation

  (1)   An administrator of a body corporate's business may make any of the following recommendations to APRA, by instrument in writing given to APRA:

  (a)   that APRA make a particular direction under Division   1BA, subsection   14D(3) or section   29 in respect of the body corporate;

  (b)   that APRA apply for the body corporate to be wound up;

  (c)   if the body corporate is an ADI--that APRA revoke the ADI's section   9 authority;

  (d)   if the body corporate is an authorised NOHC--that APRA revoke the authorised NOHC's authority under subsection   11AA(2).

Effect of recommendation

  (2)   If an administrator of a body corporate's business makes a recommendation under this section, APRA must consider the recommendation but is not required to act on it.