87Issue of liability transfer certificate

#### 87 Issue of liability transfer certificate Scope (1) This section applies if an application under section 85 has been made for a liability transfer certificate in relation to a facility. Issue of certificate (2) After considering the application, the Regulator may issue to the applicant a liability transfer certificate in relation to the facility. Criteria for issue of certificate (3) The Regulator must not issue the liability transfer certificate unless the Regulator is satisfied that: (a) the applicant passes the financial control transfer test in relation to the facility; and (b) the applicant has, and is likely to continue to have: (i) the capacity; and (ii) the access to information; and (iii) the financial resources; necessary for it to comply with obligations that will be imposed on the applicant by this Act and the associated provisions if the certificate is issued; and (c) if the regulations specify one or more other requirements—those requirements are met. Timing (4) The Regulator must take all reasonable steps to ensure that a decision is made on the application: (a) if the Regulator requires the applicant to give further information under subsection 86(1) in relation to the application—within 90 days after the applicant gave the Regulator the information; or (b) otherwise—within 90 days after the application was made. Refusal (5) If the Regulator decides to refuse to issue the liability transfer certificate, the Regulator must give written notice of the decision to the applicant.