73DTaking regulatory action

73D Taking regulatory action (1) If the regulatory body proposes to take regulatory action in relation to an approved person, the regulatory body must give the person a written notice (a regulatory notice) that— (a) states the details of the proposed regulatory action; and (b) states the grounds for the proposed regulatory action; and (c) tells the person that the person may, not later than 14 days after the day the person is given the notice, give a written response to the regulatory body about the proposed regulatory action. (2) In deciding whether to take the proposed regulatory action, the regulatory body must consider any response given to the body in accordance with the regulatory notice. (3) If the regulatory body believes on reasonable grounds that a ground for taking the proposed regulatory action has been established in relation to the approved person, the body may— (a) take the regulatory action stated in the regulatory notice; or (b) if the proposed regulatory action is the cancellation and disqualification mentioned in section 73C (d)— (i) cancel the person’s approval; or (ii) suspend the person’s approval as mentioned in section 73C (b); or (iii) put a condition on, or amend a condition put on, the person’s approval; or (c) if the proposed regulatory action is the cancellation of the person’s approval— (i) suspend the person’s approval as mentioned in section 73C (b); or

(ii) put a condition on, or amend a condition put on, the person’s approval; or (d) if the proposed regulatory action is the suspension of the person’s approval as mentioned in section 73C (b)— (i) suspend the approval for a shorter period; or (ii) put a condition on, or amend a condition put on, the person’s approval. Note Section 107A provides that the regulatory body must give written notice of the decision to each person affected by the decision. (4) Regulatory action under this section takes effect on— (a) the day the notice of the decision is given to the approved person; or ground for regulatory action against an approved person—see section 73B (Grounds for regulatory action). regulatory action—see section 73C (Regulatory action).