Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An approval under section 14 is subject to such conditions (if any) as are specified in the notice of approval.
(2) The Treasurer may, by written notice given to a person who holds an approval under section 14:
(a) impose one or more conditions or further conditions to which the approval is subject; or
(b) revoke or vary any condition:
(i) imposed under paragraph (a); or
(ii) specified in the notice of approval.
Procedures
(3) The Treasurer's power under subsection (2) may be exercised:
(a) on the Treasurer's own initiative; or
(b) on application made to the Treasurer by the person who holds the approval.
(4) An application made by a person under paragraph (3)(b) must:
(a) set out the person's reasons for making the application; and
(b) be accompanied by the prescribed fee.
(5) If the Treasurer refuses an application under paragraph (3)(b), the Treasurer must give written notice of the refusal to the applicant.
Notification
(6) The Treasurer must arrange for a copy of a notice under subsection (2) to be:
(a) published in the Gazette ; and
(b) given to the financial sector company concerned.
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