80DSurrender, revocation and suspension of authorisation

80D Surrender, revocation and suspension of authorisation

(1)  A person to whom an authorisation has been issued under section 80C may surrender the authorisation at any time.

(2)  The Commission, by notice to a person to whom an authorisation has been issued under section 80C  –

(a) may suspend the authorisation for the period specified in the notice; or

(b) may revoke the authorisation from the date on which the notice is given or a later date specified in the notice.

(3)  The Commission may only suspend or revoke under subsection (2) a person's authorisation under section 80C if the Commission considers the person is no longer a person who may, in accordance with section 80C(5) , be authorised under section 80C .

(4)  The Commission may only suspend or revoke under subsection (2) a person's authorisation under section 80C if –

(a) the Commission has given to the person a notice in writing specifying –

(i) that the Commission is proposing to suspend or revoke the authorisation; and

(ii) the reasons why the Commission is proposing to suspend or revoke the authorisation; and

(iii) that the person may, within the period of not less than 28 days specified in the notice, make written submissions to the Commission in relation to the proposal; and

(b) the Commission has considered any submissions that are made by the person within the period specified in the notice in accordance with paragraph (a)(iii) and that have not been withdrawn by the person; and

(c) the period specified in the notice in accordance with paragraph (a)(iii) has expired.

(5)  The Commission must specify, in the notice under subsection (2) of the suspension or revocation of a person's authorisation under  –