157PVariation of national interest exemption

157P  Variation of national interest exemption  (1) The Minister may, by written instrument, vary a national interest exemption:  (a) on the Minister’s initiative; or  (b) on application under section 157Q. Note: The Minister may request information to make an informed decision under subsection 157V(1).  (2) The variation may vary any one or more of the following:  (a) the specified action;  (b) the provisions from which the action is exempt, but not in a way that results in the action being exempt from additional provisions;  (c) the person to whom the exemption applies;  (d) the period for which the exemption is in force;  (e) the conditions of the exemption, including by imposing additional conditions. Grounds for variation  (3) The Minister must not vary the exemption as mentioned in paragraph (2)(a), (b) or (c) unless the Minister is satisfied that the exemption as varied is in the national interest. Note: Subsection 157L(3) applies in relation to determining the national interest.  (4) The Minister must not vary the exemption as mentioned in paragraph (2)(d) unless the Minister is satisfied that the variation is reasonably necessary to address the national interest that is the basis for the exemption as varied.  (5) The Minister must not vary the exemption as mentioned in paragraph (2)(e) unless the Minister is satisfied that the conditions as varied are necessary or convenient for a purpose mentioned in subsection 157M(2). When variation comes into force  (6) A variation comes into force on the day specified in the variation (which must not be earlier than the day the variation is made). Not a legislative instrument  (7) A variation made under subsection (1) is not a legislative instrument.