150Result of inquiry

150 Result of inquiry (1) If after holding an inquiry under section 149 the Director decides to take no further action in the matter, the Director must give written notice to that effect to the holder of the licence. Consumer Affairs and Fair Trading Act 1990 66 (2) If after holding such an inquiry the Director decides to exercise a power conferred by section 145, the Director must do so by giving written notice to the holder of the licence, and the notice must: (a) state the ground or grounds on which the power is exercised; and (b) include a statement of the fact that the holder of the licence may apply to NTCAT under section 329A(3) for review of the decision; and (c) if it varies a term or condition of a licence, or imposes new terms or conditions, require the holder, within the time specified in the notice, to produce the licence to the Director for endorsement accordingly. (3) A person who fails to produce a licence to the Director in accordance with a requirement in a notice under subsection (2) is