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Australian Prudential Regulation Authority Act 1998
55DNotifying ASIC of reasonable belief of material breach of ASIC provisions
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55D Notifying ASIC of reasonable belief of material breach of ASIC provisions
(1) Subsection (2) applies if APRA has a reasonable belief that a material breach of a legislative provision of which ASIC has the general administration may have occurred, or may be occurring.
(2) APRA must notify ASIC of that reasonable belief as soon as practicable.