15Circumstances in which Housing Australia may revoke approvals

15  Circumstances in which Housing Australia may revoke approvals

 (1) Housing Australia may revoke an approval under subsection 14(4) at a time before the entry into the arrangement to which the approval relates if, at that time, a criterion in that subsection has ceased to be satisfied.

Note 1: See section 53 for the circumstances in which Housing Australia must revoke an approval.

Note 2: This section deals with revoking approvals to enter into arrangements. Approvals stop being relevant once an arrangement is entered into as arrangements are contractual in nature and can only be terminated in accordance with their terms. Division 6 of Part 3 requires Housing Australia to ensure arrangements allow it to terminate the arrangement in certain circumstances.

 (2) To avoid doubt:

 (a) a purported revocation of an approval after an arrangement has been entered into is of no effect; and

 (b) this section does not limit Housing Australia’s power to terminate an arrangement in accordance with the terms of that arrangement.