32Notice to show cause why contract should not be terminated

32 Notice to show cause why contract should not be terminated S. 32(1) amended by No. 114/2003 s. 12.1.2 (Sch. 5 item 25). (1) The Commission may serve on each party to a controlled contract a notice in writing affording the party an opportunity to show cause within 14 days why the contract should not be terminated on the ground that, for reasons specified in the notice, it is no longer in the public interest that the contract should remain in force. (2) The notice must specify the reasons why it is considered that it is not in the public interest for the contract to remain in force. S. 32(3) amended by No. 114/2003 s. 12.1.2 (Sch. 5 item 25). (3) The person may, within the period specified in the notice, arrange with the Commission for the making of submissions as to why the contract should not be terminated. S. 32(4) amended by No. 114/2003 s. 12.1.2 (Sch. 5 item 25). (4) After considering any submissions so made, the Commission may, by notice in writing served on each party to the contract, require the contract to be terminated within a time specified in the notice. (5) If the contract is not terminated as required by the notice, it is terminated by this Act.