231HTiming of decision to refuse to release financial assurance following trigger event

231H Timing of decision to refuse to release financial assurance following trigger event (1) Subject to section 231M, a decision whether or not to release a financial assurance under section 231C, 231D, 231E or 231F must be made within 40 business days of the earlier of the following days— (a) the day on which a submission under section 231B(2) is received; (b) the day on which a notice from the person who provided the financial assurance is received, stating that a submission will not be made; (c) the day on which a submission under section 231B(2) is due, including any agreed extension. (2) The Authority may require the person who provided the financial assurance to provide the Authority with any information that the Authority considers necessary. (3) The time in which the Authority must make a decision under section 231C, 231D, 231E or 231F does not include— (a) if the Authority requires information under subsection (2), the period from the date that the Authority makes the request until the date on which the Authority receives the information; or (b) any period that the Authority and the person who provided the financial assurance agree is not to be included in that time. (4) Within 5 business days of making a decision to refuse to release all or part of the financial assurance under section 231C, 231D, 231E or 231F, the Authority must notify the following persons in writing— S. 231I inserted by No. 35/2023 s. 32.