14BAdministrator in control—additional powers to recommend action by APRA

14B Administrator in control—additional powers to recommend action by APRA

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.