36Regulator to give notice before varying, suspending or cancelling licences

36 Regulator to give notice before varying, suspending or cancelling licences

(1) This section applies if: (a) the Regulator is proposing to take any of the following action: (i) vary a licence under subsection 34(1); (ii) suspend or cancel a licence under subsection 35(1); and (b) the licence holder did not apply to the Regulator under subsection 34(3) or 35(2) to take that action. (2) The Regulator must, before taking the action: (a) give the licence holder a notice, in writing, inviting the licence holder to show cause, within a reasonable period specified in the notice, why the action should not be taken; and (b) consider any representations the licence holder makes to the Regulator within that period. (3) A notice given under subsection (2) is not a legislative instrument.