sec.118AKTermination of mandatory operation direction

sec.118AK Termination of mandatory operation direction

The Minister may terminate a mandatory operation direction by giving the Registered participant subject to the direction and the AER written notice specifying— that the direction is terminated; and the date, not less than 3 months after the date of the notice, on which the termination takes effect. The Minister may terminate a mandatory operation direction— by agreement with the Registered participant subject to the direction; or if the Minister is satisfied, in accordance with the Rules, that effective compliance with the direction is no longer possible; or if the Minister otherwise determines on reasonable grounds that the direction should be terminated; or in circumstances prescribed by the Rules. The AER must, as soon as practicable after receiving a notice under subsection (1) , publish the notice on its website. A Registered participant is not entitled to compensation, other than as provided for in the Rules, because of the termination of a mandatory operation direction. s 118AK ins 2024 No. 62 (SA) s 6 (sec.118AK-ssec.1) The Minister may terminate a mandatory operation direction by giving the Registered participant subject to the direction and the AER written notice specifying— that the direction is terminated; and the date, not less than 3 months after the date of the notice, on which the termination takes effect. (sec.118AK-ssec.2) The Minister may terminate a mandatory operation direction— by agreement with the Registered participant subject to the direction; or if the Minister is satisfied, in accordance with the Rules, that effective compliance with the direction is no longer possible; or if the Minister otherwise determines on reasonable grounds that the direction should be terminated; or in circumstances prescribed by the Rules. (sec.118AK-ssec.3) The AER must, as soon as practicable after receiving a notice under subsection (1) , publish the notice on its website. (sec.118AK-ssec.4) A Registered participant is not entitled to compensation, other than as provided for in the Rules, because of the termination of a mandatory operation direction.

• (a) that the direction is terminated; and
• (b) the date, not less than 3 months after the date of the notice, on which the termination takes effect.
• (a) by agreement with the Registered participant subject to the direction; or
• (b) if the Minister is satisfied, in accordance with the Rules, that effective compliance with the direction is no longer possible; or
• (c) if the Minister otherwise determines on reasonable grounds that the direction should be terminated; or
• (d) in circumstances prescribed by the Rules.