174ASuspension or cancellation of CMS licence in extraordinary circumstances

174A Suspension or cancellation of CMS licence in extraordinary circumstances

174A Suspension or cancellation of CMS licence in extraordinary circumstances

(1) Despite any other provision in this Part, the Minister may, by notice in writing to a CMS licensee, cancel or suspend the CMS licence if the Minister is satisfied that—

(a) the conduct of the CMS licensee may materially jeopardise the integrity of the CMS, or

(b) failure to do so may result in the public interest being adversely affected in a material way.

(2) A notice given under this section is to specify—

(a) when the cancellation or suspension takes effect (whether on the date notice is given or a later date), and

(b) the grounds on which the licence was cancelled or suspended.

s 174A: Ins 2015 No 70, Sch 1 [15].