43Regulator may vary or revoke a disqualification

43 Regulator may vary or revoke a disqualification

(1) The Regulator may vary or revoke a disqualification made under section 42 on its own initiative or on application by the disqualified person.

Note: A decision to vary or revoke a disqualification, or to refuse to vary or revoke a disqualification, is a reviewable decision (see Part 5 of this Chapter).

(2) A variation or revocation of a disqualification takes effect on the day on which it is made. (3) The Regulator must give written notice of: (a) a variation or revocation of a disqualification; or (b) a refusal to vary or revoke the disqualification; to the disqualified person and to each person to whom the Regulator was required by subsection 42(3) to given notice of the disqualification. (4) A notice under subsection (3) is not a legislative instrument.