(1) If APRA is satisfied that an ADI would contravene a law of a foreign country if the ADI were to comply with a particular obligation under section 37, APRA:
(a) may give to the ADI a written notice specifying that obligation; and
(b) may specify in the notice:
(i) the extent to which the ADI need not comply with that obligation; and
(ii) conditions to which the notice is subject.
(2) An ADI is not required to comply with that obligation:
(a) to the extent compliance would result in the ADI contravening that law of a foreign country; or
(b) if the notice specifies the extent to which the ADI need not comply with that obligation--to the extent so specified;
if the conditions (if any) specified in the notice are complied with.