84Variation or revocation of directions

84 Variation or revocation of directions

(1) The Reserve Bank may, by written notice given to a body corporate:

(a) vary a direction given under section 82 or 83 to the body corporate if, at the time of variation, the Reserve Bank reasonably believes the variation is necessary or appropriate; or

(b) revoke such a direction if, at the time of revocation, the Reserve Bank reasonably believes the direction is no longer necessary or appropriate.

Note: A decision under this subsection to vary or revoke a direction given under section 82 is a reviewable decision (see Division 2 of Part 10).

(2) A direction given under section 82 or 83 has effect until the Reserve Bank revokes it under subsection (1) of this section.