Commonwealth Numbered Acts

LOAN (INCOME EQUALIZATION DEPOSITS) ACT 1976 No. 206, 1976 - SECT 22

22. (1) Where a request is made to the authorized person for a declaration
under section 16 in respect of a deposit and the authorized person does not,
within a perod of 1 month after the making of the request, make a declaration
in accordance with the request, he shall give notice in writing to the person
who made the request stating that he has not made the declaration and giving
reasons why he has not made it.

(2) The authorized person may, within a period of 1 month after the making of
a request for a declaration under section 16 in respect of a deposit, give
notice in writing to the person who made the request requiring him to furnish
to the authorized person further information in connexion with the request
and, where the authorized person gives such a notice, the reference in
sub-section (1) to the period of 1 month after the making of the request
shall, in relation to that request, be read as a reference to a period of 1
month after the information is furnished in accordance with the notice or to a
period of 2 months after the making of the request, whichever period first
expires.

(3) Where the authorized person gives notice to a person under sub-section (1)
in respect of a request made by the person, the person may, within 1 month
after the notice is given, by writing signed by him, direct the authorized
person to refer the request to a Board of Review.

(4) Upon receipt of the direction and upon payment of the prescribed fee (if
any), the authorized person shall refer the request to a Board of Review.

(5) Where a request is referred to a Board of Review under sub- section (4),
the Board has, in relation to the request, the same powers and functions as
the authorized person and, for that purpose, this Part (other than this
section) shall apply to and in relation to the request as if references in
this Part to the authorized person were references to the Board of Review and
as if the request had been made to the Board of Review.

(6) Where the Board of Review decides not to make a declaration in accordance
with the request, the Board shall give its decision in writing and, if
requested to do so by the authorized person or by the person who made the
request for the declaration, shall state its reasons for the decision.

(7) For the purposes of this section, a Board of Review shall be constituted
by the Chairman of the Board, or by another member of the Board authorized in
writing by the Chairman to determine the request.

(8) The regulations may make provision for and in relation to-

   (a)  the giving of notices and directions under this section;

   (b)  proceedings before a Board of Review in relation to a request under
        this Part; and

   (c)  the refund of the prescribed fee referred to in sub-section (4).