46Cancellation—failure to satisfy a condition of registration

#### 46 Cancellation—failure to satisfy a condition of registration (1) ASIC must cancel the registration of a business name to an entity if: (a) the name contains a word or expression that, under an instrument made under paragraph 28(1)(b) or subsection 28(2), is restricted unless a condition is satisfied; and (b) the entity ceases to satisfy the condition. (2) ASIC must, at least 28 days before cancelling the registration, give notice in writing to the entity informing the entity that: (a) ASIC has formed the view that the entity ceases to satisfy the condition; and (b) ASIC proposes to cancel the registration of the business name on that basis.