51ABZTMaterial changes of fact

51ABZT Material changes of fact

(1) This section applies in relation to a public benefit application in relation to a notification of an acquisition if:

(a) the Commission has not made a determination in respect of the application under subsection 51ABZW(1); and

(b) the Commission becomes aware of a change of fact.

(2) If the Commission is satisfied that the change is material to the Commission making a determination under subsection 51ABZW(1) in respect of the application, the Commission may, in writing:

(a) decide that the effective application date of the application is the date on which the Commission becomes aware of the change of fact; or

(b) decide that the determination period for the application is extended by the period mentioned in subsection (3) of this section.

(3) For the purposes of paragraph (2)(b), the extension is for the period:

(a) starting on the day the Commission makes the decision under that paragraph; and

(b) including:

(i) each day on which the notifying party of the notification has not given to the Commission information or documents in response to the decision in accordance with subsection 51ABZU(2); and

(ii) the day (if any) on which the notifying party gives to the Commission information or documents in response to the decision in accordance with that subsection.

(4) The decision must be made within a reasonable period after the Commission becomes aware of the change of fact.

(5) If the Commission makes a decision under subsection (2) of this section, the Commission must give written notice of the decision to the notifying party of the notification.

Note: For review of the decision, see section 51ABZZG.

(6) If the Commission extends the determination period for the public benefit application under paragraph (2)(b) of this section, the following paragraphs apply in relation to making a determination under subsection 51ABZW(1) in respect of the application:

(a) the 20 business days mentioned in section 51ABZZA is increased by the same number of days as the extension;

(b) the period mentioned in paragraph 51ABZZE(3)(c) is extended by the same number of days.