APRA President, Byers, admits the regulator "could have done a better job"



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Mr. Byers discussed the matter with his lawyer, Michael Hodge, QC

Mr. Hodge: "I think the power you had for a relatively short period of time might have been two or three years, which allowed you to administratively disqualify a person, is that right?"

Mr. Byers: "I think we had it longer than that … I think we had it basically for – that was there – I'm happy to be corrected but I am remember that we had it for a longer period than that 2007 – 2006, 2007. It has been changed so that we can not do it administratively. "

Mr. Hodge: "You had to go to court?"

Mr. Byers: "We had to appeal to the Federal Court."

Mr. Hodge: "And then you stopped doing it, that is, you did not apply to the court?"

Mr. Byers: "I'm not sure – I do not think we applied, no."

Mr. Hodge: "And the problem when you had administratively disqualified some people was that they would then request a review of your decision with the AAT. [Administrative Appeals Tribunal] and the AAT would cancel your decision? "

Mr Byers: "Yes. A number of these decisions have been rescinded, including the directors of HIH Insurance, which have been set aside, yes. "

Mr. Hodge: "And if I understand correctly, I think your statement is relatively narrow, in other words, we could administer and disqualify someone whom we obviously had not done so well. as well as we could have because we had …? "

Mr. Byers: "No, because we have been – we have been the subject of some criticism regarding how we handled many of these cases."

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