62NSuspension or cancellation of accreditation

62N Suspension or cancellation of accreditation

62N Suspension or cancellation of accreditation

(1) The Scheme Administrator may suspend or cancel the accreditation of a person as a certificate provider for an activity on 1 or more of the following grounds—

(a) the Scheme Administrator is satisfied—

(i) the person has ceased to be eligible for accreditation as a certificate provider for the activity, or

(ii) the person, or a close associate of the person, has contravened a provision of the Act, the regulations, the scheme rules or a condition to which the accreditation is subject,

(b) the person has requested the suspension or cancellation,

(c) the person is an individual who has—

(i) become bankrupt, or

(ii) applied to take the benefit of a law for the relief of bankrupt or insolvent debtors, or

(iii) compounded with the person’s creditors or made an assignment of remuneration for the benefit of the person’s creditors,

(d) the person is a corporation the subject of a winding up order or for which an insolvency official has been appointed,

(e) the Scheme Administrator is not satisfied the person is competent to be a certificate provider for the activity,

(f) the Scheme Administrator is satisfied the person is not a fit and proper person.

(2) If the Scheme Administrator suspends or cancels the accreditation of a person, the Scheme Administrator must give the person written notice of the suspension or cancellation with reasons.

(3) A suspension or cancellation takes effect—

(a) when notice of the suspension or cancellation is given to the person, or

(b) on a later date specified by the Scheme Administrator in the notice.

(4) An individual may not be a fit and proper person if the individual—

(a) has, in the previous 10 years, been found guilty of an offence involving fraud or dishonesty, whether in New South Wales or elsewhere, or