216Procedure for taking disciplinary action

216 Procedure for taking disciplinary action

(1) This section applies if the regulator proposes to take disciplinary action against a permission holder under this Part.

(2) The regulator must serve on the permission holder a notice (a disciplinary notice) that—

(a) specifies the proposed disciplinary action (including any proposed period of suspension or disqualification); and

(b) if the permission holder holds more than one permission, specifies the permission or permissions to which the proposed disciplinary action relates; and

(c) specifies the grounds for the proposed disciplinary action; and

(d) invites the permission holder to make a written submission within a specified period as to why the proposed disciplinary action should not be taken.

(3) For the purposes of subsection (2)(d), the period specified in the disciplinary notice may be—

(a) if an immediate suspension notice is also served under section 220, a period of at least 10 business days after the day on which the disciplinary notice is served on the permission holder; or

(b) in any other case, a period of at least 20 business days after the day on which the disciplinary notice is served on the permission holder.

S. 217 inserted by No. 63/2017 s. 18.