Commonwealth Numbered Acts

FIRST HOME SAVER ACCOUNTS ACT 2008 (NO. 44, 2008) - SECT 92

             (1)  APRA must grant an authorisation as an FHSA provider to an applicant if, and only if:

                     (a)  APRA has no reason to believe that the applicant would fail to comply with this Act, the regulations or the Prudential Standards if the authorisation were granted; and

                     (b)  APRA has no reason to believe that the applicant would fail to comply with any condition imposed on the authorisation if it were granted; and

                     (c)  the application complies with section 89; and

                     (d)  APRA is satisfied that the applicant holds an RSE licence of a class that would enable it to be a trustee of a public offer entity; and

                     (e)  APRA is satisfied that the applicant meets the capital requirements under section 93; and

                      (f)  the application has not been withdrawn, treated as withdrawn under subsection 90(2) or taken to have been refused under subsection 91(4).

Note:          Conditions apply to every authorisation as an FHSA provider. See Subdivision C.

             (2)  Otherwise APRA must refuse the application.