Management and Investment Companies Act 1983
48Statement to accompany notice of reviewable decisions
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48 Statement to accompany notice of reviewable decisions
(1) Where the Board makes a decision to revoke a licence, to refuse to approve the surrender of a licence or to refuse to renew a licence, the Board shall, in the notice under subsection 23(1), 23A(3) or 25(5), as the case may be, informing the licensee of its decision, include a statement to the effect that the licensee, or any other person whose interests are affected by the decision, may, subject to the Administrative Appeals Tribunal Act 1975, if the licensee or other person is dissatisfied with the decision, make application to the Administrative Appeals Tribunal for review of the decision. (2) Any failure to comply with the requirements of subsection (1) in relation to a decision does not affect the validity of the decision.