61Secretary must notify proposed redirection

61 Secretary must notify proposed redirection

(1) Before the Secretary redirects an incentive, the Secretary must give written notice of the proposed redirection to: (a) the original approved participant; and (b) the investor. (2) The notice must invite the original approved participant or investor, as the case requires, to make a written submission to the Secretary about the proposed redirection no later than 14 days after the day the Secretary gives the notice. (3) The notice may be given with a notice under subsection 32(8) (which deals with notice of transfer because of breach). (4) If the Secretary gives notice under subsection (1) of a proposed redirection, the Secretary must, after having decided whether or not to make the redirection, give to the original approved participant and the investor written notice of that decision.