CTHIn ForceAct
Superannuation Industry (Supervision) Act 1993
29UACancellation of authority of an RSE licensee that is also a financial services licensee
Start here
Get a plain-English read of 29UA
Turn the raw legal text into a practical explanation grounded in Superannuation Industry (Supervision) Act 1993.
#### 29UA Cancellation of authority of an RSE licensee that is also a financial services licensee
(1) Before cancelling an authority of an RSE licensee that is also a financial services licensee, APRA must consult ASIC if, in APRA’s opinion, the cancellation might reasonably be expected to affect the RSE licensee’s ability to provide one or more of the financial services (within the meaning of the Corporations Act 2001) that the RSE licensee provides.
(2) If APRA cancels the authority of an RSE licensee that is also a financial services licensee, APRA must inform ASIC of the cancellation within one week after the cancellation.
(3) A failure to comply with a requirement of this section does not invalidate the cancellation of an authority to offer a class of beneficial interest in a regulated superannuation fund as a MySuper product.