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Financial Sector (Transfer and Restructure) Act 1999
17Notice of decision
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#### 17 Notice of decision
(1) If APRA approves the transfer of business, APRA must give a copy of the voluntary transfer approval to the transferring body and the receiving body.
(2) If APRA refuses to approve the transfer of business, APRA must give written notice of the refusal to the transferring body and the receiving body. The notice must include a statement of the reasons why the approval was refused.