89Surrender of liability transfer certificate

#### 89 Surrender of liability transfer certificate Scope (1) This section applies if a person is the holder of a liability transfer certificate in relation to a facility. Surrender (2) The person may, with the written consent of the Regulator, surrender the certificate. (3) The surrender takes effect when the consent is given by the Regulator. Consent to surrender (4) The Regulator must not consent to the surrender of the certificate unless: (a) in the case of a certificate issued under section 83, where a person consented under subsection 81(3) to the making of the application for the certificate—the person has agreed to the surrender of the certificate; and (b) in the case of a certificate issued under section 87, where a controlling corporation consented under paragraph 85(3)(a) to the making of the application for the certificate—the controlling corporation has agreed to the surrender of the certificate; and (c) in the case of a certificate issued under section 87, where a person consented under paragraph 85(3)(b) to the making of the application for the certificate—the person has agreed to the surrender of the certificate; and (d) either: (i) the certificate has been in force for at least 4 years; or (ii) the certificate has been in force for less than 4 years, but the Regulator is satisfied that there are special circumstances that warrant the giving of consent to the surrender of the certificate. Refusal (5) If the Regulator decides to refuse to give consent to the surrender of the certificate, the Regulator must give written notice of the decision to the person.