88ZOModification, suspension or revocation relating to change in beneficial ownership

#### 88ZO Modification, suspension or revocation relating to change in beneficial ownership (1) If the Authority receives a notice under regulation 88ZM, it may modify the conditions of, or suspend or revoke, the permission held by the changed company on the ground that the changed company is not a suitable person to hold the permission (subject to the conditions to which it was subject before the change in beneficial ownership of the company), having regard to: (a) the changed company’s capacity to engage in and manage, to the Authority’s satisfaction, the conduct permitted by the permission; and (b) the company’s history in relation to environmental matters; and (c) the history of the changed company’s executive officers in relation to environmental matters; and (d) if the changed company is a subsidiary of a holding company—the history of the holding company and its executive officers in relation to environmental matters; and (e) whether the changed company, or an executive officer of the changed company, owes any fee or other amount payable under the Act or these Regulations; and (f) any other relevant matter. (2) The Authority must notify the changed company whether or not it intends to suspend or revoke, or modify the conditions of, the permission held by the changed company within 20 business days after receiving: (a) if the Authority has not requested additional information under regulation 88ZN—a notice under regulation 88ZM; or (b) if the Authority has requested additional information under regulation 88ZN—the additional information requested under regulation 88ZN.