sec.58Immediate suspension

sec.58 Immediate suspension

The regulator may, by notice ( suspension notice ) to the distributor, immediately suspend a distribution authority if the regulator reasonably believes— a ground exists to suspend or cancel the authority; and the circumstances are so extraordinary that it is imperative to immediately suspend the authority to control or prevent— a significant adverse economic or social impact on the State or a part of the State; or a danger to the public. The suspension notice must— state each of the following— that the authority is suspended immediately; the grounds for the suspension; the facts and circumstances forming the basis for the grounds; the suspension period; that the distributor may make written submissions to the regulator to show why the suspension should end; and include, or be accompanied by, an information notice about the decisions to give the notice and to fix the suspension period. The suspension period must not be more than 40 business days. The suspension has effect immediately after the distributor is given the suspension notice. The authority is ineffective during the suspension period. (sec.58-ssec.1) The regulator may, by notice ( suspension notice ) to the distributor, immediately suspend a distribution authority if the regulator reasonably believes— a ground exists to suspend or cancel the authority; and the circumstances are so extraordinary that it is imperative to immediately suspend the authority to control or prevent— a significant adverse economic or social impact on the State or a part of the State; or a danger to the public. (sec.58-ssec.2) The suspension notice must— state each of the following— that the authority is suspended immediately; the grounds for the suspension; the facts and circumstances forming the basis for the grounds; the suspension period; that the distributor may make written submissions to the regulator to show why the suspension should end; and include, or be accompanied by, an information notice about the decisions to give the notice and to fix the suspension period. (sec.58-ssec.3) The suspension period must not be more than 40 business days. (sec.58-ssec.4) The suspension has effect immediately after the distributor is given the suspension notice. (sec.58-ssec.5) The authority is ineffective during the suspension period.

• (a) a ground exists to suspend or cancel the authority; and
• (b) the circumstances are so extraordinary that it is imperative to immediately suspend the authority to control or prevent— (i) a significant adverse economic or social impact on the State or a part of the State; or (ii) a danger to the public.
• (i) a significant adverse economic or social impact on the State or a part of the State; or
• (ii) a danger to the public.
• (i) a significant adverse economic or social impact on the State or a part of the State; or