157Review of decision about waiving funding contribution or penalty

157  Review of decision about waiving funding contribution or penalty  (1) A participating institution or funder of last resort that is affected by a decision of the Operator under section 156 about waiving the payment of all or part of funding contribution or late payment penalty may, if dissatisfied with the decision, request the Operator to reconsider the decision.  (2) The request must:  (a) be made by notice given to the Operator in the approved form within:  (i) the period of 21 days after the day of the notice of the decision; or  (ii) any further period that the Operator allows; and  (b) set out the reasons for making the request.  (3) After receiving the request, the Operator must review the decision or cause the decision to be reviewed by a person:  (a) to whom the Operator’s power under this section is delegated; and  (b) who was not involved in the making of the decision.  (4) Within 30 business days after receiving the request or such longer period as the Operator determines in writing (the review period), the person reviewing the decision must:  (a) reconsider the decision; and  (b) confirm, revoke or vary the decision, as the person thinks fit.  (5) If the person reviewing the decision does not confirm, revoke or vary the decision within the review period, he or she is taken to have confirmed the decision under subsection (4) immediately after the end of that period.  (6) The person reviewing the decision must give a notice in writing to the participating institution or funder of last resort that made the request that sets out the result of the reconsideration of the decision and gives the reasons for that result.