53General circumstances in which Secretary may cancel or suspend appointment of nominees

53 General circumstances in which Secretary may cancel or suspend appointment of nominees

At the request of a participant (1) If: (a) a person is appointed as a nominee of a participant under section 50 on the initiative of the Secretary; and (b) the participant requests the Secretary to cancel the appointment; the Secretary may, by written instrument, cancel the appointment. (2) A request under paragraph (1)(b) need not be made in writing. If the request is not made in writing, the Secretary must make a written record of the request. (3) If a request is made under paragraph (1)(b): (a) the Secretary must decide whether to cancel the appointment within 14 days after receiving the request; and (b) if the Secretary decides not to cancel the appointment—the Secretary must give the person and participant written notice of the Secretary’s decision. Ability to act as a nominee affected (4) The Secretary may, by written instrument, suspend or cancel one or more of a nominee’s appointments if: (a) the Secretary gives the nominee a notice under section 49; and (b) in response to the notice, the nominee informs the Secretary that an event or change of circumstances has happened or is likely to happen; and (c) having regard to that response, the Secretary is satisfied that it is appropriate to do so. Failure to comply with a notice under section 49 (5) The Secretary may, by written instrument, suspend or cancel one or more of a nominee’s appointments if: (a) the Secretary gives the nominee a notice under section 49; and (b) the nominee does not comply with a requirement specified in the notice. Copy of instrument of cancellation or suspension to be given (6) If the appointment of a person as a nominee of a participant is cancelled or suspended under this section, the Secretary must give the person and participant a copy of the instrument of cancellation or suspension.