115Referral of matters to the Panel and other Authorities

115 Referral of matters to the Panel and other Authorities

(1) This section applies if: (a) the Authority proposes to make a decision that may, or is intended to, have application in: (i) another participating jurisdiction; or (ii) more than 1 other participating jurisdiction; and (b) the decision relates to: (i) the grant of an AFM accreditation or an exemption; or (ii) the variation, suspension or cancellation of a BFM accreditation, AFM accreditation or an exemption, if the original grant of the accreditation or exemption was made by a corresponding Authority; or (iii) any other matter prescribed by the regulations. (2) The Authority must inform the Panel of the proposed decision. (3) The Panel may make a recommendation to the Authority about the proposed decision. (4) If the Panel gives the Authority written notice of the recommendation and the reasons for the recommendation, the Authority must take note of the recommendations of the Panel when making the decision. (5) The Authority may refer any other matter under this Act to the Panel for consideration.