sec.243Regulator’s power to amend plan

sec.243 Regulator’s power to amend plan

If the regulator reasonably believes an industry participant’s contingency supply plan does not comply with the content requirements, the regulator may, by complying with subsections (3) and (4) , amend the plan so that it does comply with the requirements. The regulator must give the industry participant a notice stating each of the following— how the plan does not comply with the requirements; that the regulator proposes to amend the plan so that it does comply; the proposed amendment; that the industry participant may within a stated reasonable period— amend the plan so that it does comply with the requirements; or make written submissions to the regulator about why the proposed amendment should not be made. The regulator must consider any written submissions or amendments made by the industry participant within the stated period. The amendment does not take effect until the industry participant is given an information notice about the decision to make the amendment. This section does not prevent the industry participant from further amending the plan if the further amended plan complies with the content requirements. In this section— amend includes remake and replace. (sec.243-ssec.1) If the regulator reasonably believes an industry participant’s contingency supply plan does not comply with the content requirements, the regulator may, by complying with subsections (3) and (4) , amend the plan so that it does comply with the requirements. (sec.243-ssec.2) The regulator must give the industry participant a notice stating each of the following— how the plan does not comply with the requirements; that the regulator proposes to amend the plan so that it does comply; the proposed amendment; that the industry participant may within a stated reasonable period— amend the plan so that it does comply with the requirements; or make written submissions to the regulator about why the proposed amendment should not be made. (sec.243-ssec.3) The regulator must consider any written submissions or amendments made by the industry participant within the stated period. (sec.243-ssec.4) The amendment does not take effect until the industry participant is given an information notice about the decision to make the amendment. (sec.243-ssec.5) This section does not prevent the industry participant from further amending the plan if the further amended plan complies with the content requirements. (sec.243-ssec.6) In this section— amend includes remake and replace.

• (a) how the plan does not comply with the requirements;
• (b) that the regulator proposes to amend the plan so that it does comply;
• (c) the proposed amendment;
• (d) that the industry participant may within a stated reasonable period— (i) amend the plan so that it does comply with the requirements; or (ii) make written submissions to the regulator about why the proposed amendment should not be made.