92FVariation of authorisations

92F Variation of authorisations

(1) The Commission may, at any time, make a determination in writing to vary an authorisation under this Division if the Commission considers it appropriate to do so.

(2) The Commission must not make a determination under subsection (1) varying an authorisation unless the Commission is satisfied that, in all the circumstances, the conduct specified in the authorisation as varied would assist, or would be likely to assist, in the response to or recovery from the exceptional circumstances or emergency to which the declaration relates.

(3) In making a determination under subsection (1), the Commission:

(a) must have regard to:

(i) the likely benefit to the public resulting from the assistance, or likely assistance, in response to or recovery from the exceptional circumstances to which the declaration relates; and

(ii) the detriment to the public that would result, or be likely to result, from the conduct; and

(b) may have regard to any other public benefit that would result or likely result from the conduct.

(4) The Commission must give the person who applied for the authorisation written notice stating:

(a) that the authorisation is varied; and

(b) details of the variation; and

(c) the date on which the variation takes effect.

(5) The variation takes effect on the business day after the day on which the notice is given.