334Varying or revoking asset determination in certain circumstances following notification of event or change in circumstances by registered provider

334 Varying or revoking asset determination in certain circumstances following notification of event or change in circumstances by registered provider

Application (1A) This section applies if: (a) an asset determination is in force for an individual; and (b) the System Governor has been notified of the occurrence of an event or a change in the individual’s circumstances under section 337; and (c) the event or change in circumstances is not set out in the notice of the asset determination (see subsection 329(8)) or a notice of a decision to vary the asset determination (see subsection 335(1)); and (d) the asset determination is no longer correct because of the occurrence of the event or change in the individual’s circumstances; and (e) any circumstances prescribed by the rules do not apply. Initial notice to individual (1) The System Governor must give the individual a written notice (the initial notice). (2) The initial notice must: (aa) inform the individual that the System Governor has been notified of the occurrence of an event or a change in the individual’s circumstances under section 337; and (ab) set out the event or change in the individual’s circumstances; and (a) inform the individual that the event or change in the individual’s circumstances may be a reason to vary or revoke the asset determination, and what the effect of the variation or revocation would be; and (b) invite the individual to make a submission to the System Governor in relation to the matter within the period specified in the initial notice (which must not be less than 28 days after giving the initial notice); and (c) inform the individual that the System Governor may decide to vary or revoke the asset determination: (i) if no submission is made within the specified period; or (ii) after considering any submission made by the individual within the specified period. Further notice if individual does not respond to initial notice (2A) If the individual does not make a submission within the specified period, the System Governor must give the individual a written notice (the further notice). (2B) The further notice must: (a) contain the information referred to in paragraphs (2)(aa), (ab) and (a) contained in the initial notice; and (b) invite the individual to make a submission to the System Governor in relation to the matter within the period specified in the further notice (which must not be less than 28 days after giving the further notice); and (c) inform the individual that the System Governor may decide to vary or revoke the asset determination: (i) if no submission is made within the specified period; or (ii) after considering any submission made by the individual within the specified period. Request for further information in initial or further notice (3) The System Governor may also request, in the initial notice or further notice, that the individual give the System Governor the information specified in the notice, within the period specified in the notice for the purposes of paragraph (2)(b) or (2B)(b), to assist the System Governor to decide whether to vary or revoke the asset determination.