sec.174Acting on regulator’s own initiative—general

sec.174 Acting on regulator’s own initiative—general

Subject to section 175 , the regulator must not act, to amend the conditions by varying them or imposing new conditions, on the regulator’s own initiative without first giving the declaration holder a notice— stating details of the proposed amendment; and inviting the declaration holder to make written submissions about the proposal within a stated time of at least 7 days. The regulator must consider all submissions received from the declaration holder under subsection (1) (b) . If, after considering the submissions (if any), the regulator is of the opinion that the conditions of the declared scheme should be amended as mentioned in subsection (1) (a) , the regulator may amend the conditions by written notice given to the declaration holder. The amendment has effect when the notice is given to the declaration holder. If the regulator amends the conditions, the regulator must give the declaration holder an information notice for the decision to amend. (sec.174-ssec.1) Subject to section 175 , the regulator must not act, to amend the conditions by varying them or imposing new conditions, on the regulator’s own initiative without first giving the declaration holder a notice— stating details of the proposed amendment; and inviting the declaration holder to make written submissions about the proposal within a stated time of at least 7 days. (sec.174-ssec.2) The regulator must consider all submissions received from the declaration holder under subsection (1) (b) . (sec.174-ssec.3) If, after considering the submissions (if any), the regulator is of the opinion that the conditions of the declared scheme should be amended as mentioned in subsection (1) (a) , the regulator may amend the conditions by written notice given to the declaration holder. (sec.174-ssec.4) The amendment has effect when the notice is given to the declaration holder. (sec.174-ssec.5) If the regulator amends the conditions, the regulator must give the declaration holder an information notice for the decision to amend.

• (a) stating details of the proposed amendment; and
• (b) inviting the declaration holder to make written submissions about the proposal within a stated time of at least 7 days.