sec.140AHCancellation of licence

### sec.140AH Cancellation of licence If a relevant person for a licence is issued with a negative notice under a prescribed provision, the chief executive may cancel the licence after the day the notice is issued, whether or not the licence has been suspended under this subdivision. If a licence is suspended under this subdivision and a relevant person for the licence is issued with a negative notice, other than under a prescribed provision, the chief executive may cancel the licence after— if the relevant person does not apply for a review of the decision to issue the notice—the end of the period in which the person may apply for the review; or if the relevant person applies for a review and the decision to issue the notice is upheld on the review—the day the decision is upheld. The chief executive must not cancel a licence under this section if satisfied the relevant person is no longer the nominee for the licence or a director of the licensee. s 140AH ins 2006 No. 17 s 9 amd 2010 No. 5 s 38 ; 2019 No. 18 s 86 (2) sch 2 (sec.140AH-ssec.1) If a relevant person for a licence is issued with a negative notice under a prescribed provision, the chief executive may cancel the licence after the day the notice is issued, whether or not the licence has been suspended under this subdivision. (sec.140AH-ssec.2) If a licence is suspended under this subdivision and a relevant person for the licence is issued with a negative notice, other than under a prescribed provision, the chief executive may cancel the licence after— if the relevant person does not apply for a review of the decision to issue the notice—the end of the period in which the person may apply for the review; or if the relevant person applies for a review and the decision to issue the notice is upheld on the review—the day the decision is upheld. (sec.140AH-ssec.3) The chief executive must not cancel a licence under this section if satisfied the relevant person is no longer the nominee for the licence or a director of the licensee. - (a) if the relevant person does not apply for a review of the decision to issue the notice—the end of the period in which the person may apply for the review; or - (b) if the relevant person applies for a review and the decision to issue the notice is upheld on the review—the day the decision is upheld.