42Notifying designated entity of decision

42 Notifying designated entity of decision

(1) The ACCC must notify the entity, in writing, of its decision on the application as soon as reasonably practicable after making the decision.

When approval takes effect

(2) If the ACCC decides to approve the proposed standard terms or proposed variation of approved standard terms:

(a) the notice must set out the standard terms approved or variation approved; and

(b) for an approval of standard terms—the notice must:

(i) state the kind of cash distribution services or facilities access in relation to which the standard terms are approved; and

(ii) state that the approval applies in relation to all customers or to a specified kind of customers; and

(c) in any case—the approval takes effect:

(i) on the day after notice of the decision to approve the standard terms or the variation is given to the entity; or

(ii) on a later day specified in the notice (which must not be more than 10 business days after the notice is given).

Decision not to approve

(3) If the ACCC decides not to approve the proposed standard terms or proposed variation, the notice must contain a statement of the reasons for the decision.