22Conditions on registration

22 Conditions on registration

(1) APRA may, at any time, by giving written notice to a company: (a) impose conditions, or additional conditions, on the company’s registration under section 21; or (b) vary or revoke conditions imposed on the company’s registration under section 21. The conditions must relate to prudential matters. (2) A condition may be expressed to have effect despite anything in the prudential standards. (3) Without limiting the conditions that APRA may impose on a registration, APRA may make the registration conditional on a body corporate, of which the company is a subsidiary, being a registered NOHC. (4) If APRA imposes, varies or revokes the conditions on a company’s registration, APRA must: (a) give written notice to the company; and (b) ensure that notice that the action has been taken is published in the Gazette. (5) The taking of an action is not invalid merely because of a failure to comply with subsection (4).