157USurrender of national interest exemption

157U  Surrender of national interest exemption  (1) A person to whom a national interest exemption applies may, in writing, request the Minister to accept the surrender of the exemption.  (2) The Minister must decide whether or not to accept the surrender within 20 business days of receiving the application. Note: If the Minister requests information to make an informed decision under section 157V, days between the request and receipt of the information do not count towards this timeframe (subsection 157V(2)).  (3) In deciding whether or not to accept the surrender, the Minister may have regard to any matter the Minister considers relevant. Notice of decision  (4) As soon as practicable after the decision is made, the Minister must:  (i) the person who made the request; and  (b) if the Minister decides to accept the surrender—publish the notice on the Department’s website. Effect of surrender  (5) If the Minister decides to accept the surrender, the exemption is taken to be revoked with effect from the day specified in the notice (which must not be earlier than the day the notice is published under paragraph (4)(b)).