sec.23Amendment of provider approval by Regulatory Authority

sec.23 Amendment of provider approval by Regulatory Authority

The Regulatory Authority may amend a provider approval at any time without an application from the approved provider. Without limiting subsection (1) , an amendment may vary a condition of the provider approval or impose a new condition on the provider approval. Without limiting subsections (1) and (2) , the Regulatory Authority may amend an approved provider’s provider approval, vary a condition on an approved provider’s provider approval or impose a new condition on an approved provider’s provider approval if the Regulatory Authority is satisfied that— there is a systemic risk in relation to the approved provider or a related provider of the approved provider; and the amendment of the provider approval, the variation of the condition on the provider approval or the imposition of the new condition on the provider approval is reasonably necessary to address the systemic risk. The Regulatory Authority must give written notice to the approved provider of the amendment. An amendment under this section has effect— 14 days after the Regulatory Authority gives notice of the amendment under subsection (3) ; or if another period is specified by the Regulatory Authority, at the end of that period. s 23 amd 2011 No. 80 (Vic) s 64 ; 2025 No. 53 (Vic) s 66 (sec.23-ssec.1) The Regulatory Authority may amend a provider approval at any time without an application from the approved provider. (sec.23-ssec.2) Without limiting subsection (1) , an amendment may vary a condition of the provider approval or impose a new condition on the provider approval. (sec.23-ssec.2A) Without limiting subsections (1) and (2) , the Regulatory Authority may amend an approved provider’s provider approval, vary a condition on an approved provider’s provider approval or impose a new condition on an approved provider’s provider approval if the Regulatory Authority is satisfied that— there is a systemic risk in relation to the approved provider or a related provider of the approved provider; and the amendment of the provider approval, the variation of the condition on the provider approval or the imposition of the new condition on the provider approval is reasonably necessary to address the systemic risk. (sec.23-ssec.3) The Regulatory Authority must give written notice to the approved provider of the amendment. (sec.23-ssec.4) An amendment under this section has effect— 14 days after the Regulatory Authority gives notice of the amendment under subsection (3) ; or if another period is specified by the Regulatory Authority, at the end of that period.

• (a) there is a systemic risk in relation to the approved provider or a related provider of the approved provider; and
• (b) the amendment of the provider approval, the variation of the condition on the provider approval or the imposition of the new condition on the provider approval is reasonably necessary to address the systemic risk.