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NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 301J Amendment of product intervention orders

NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 301J

Amendment of product intervention orders

  (1)   Subject to this section, ASIC may, in writing, amend a product intervention order that is in force.

Requirements before amending product intervention orders

  (2)   If a declaration under section   301H is in force in relation to a product intervention order, ASIC must not amend the order without the Minister's approval, given after considering a report from ASIC on whether the amendment should be made.

  (3)   ASIC may, at any time before the order ceases to be in force, give the Minister a report on whether the amendment should be made.

Amendments of product intervention orders

  (4)   An amendment of a product intervention order must not be such that the order remains in force for a period longer than the maximum period determined for the order in accordance with subsection   301G(2) or 301H(1).

  (5)   An amendment of a product intervention order comes into force:

  (a)   for an amendment of an order that is a legislative instrument--on the day after the amendment is registered under the Legislation Act 2003 ; or

  (b)   otherwise--on the day after the day on which the notice under subsection   301L(6) in relation to the amendment is published;

or a later day specified in the amendment.

Amendments of orders that are legislative instruments

  (6)   An amendment of a product intervention order that is a legislative instrument must be by legislative instrument.

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