102Revocation of approval to access and deal with Register account

102  Revocation of approval to access and deal with Register account

 (1) The Regulator may revoke an approval granted under section 101 to an authorised representative of the holder of a Register account if the Regulator is no longer satisfied that the representative is a fit and proper person.

 (2) As soon as practicable after revoking the approval, the Regulator must:

 (a) notify the holder of the Register account of the decision and the reasons for the decision; and

 (b) if the holder is not an individual and there are no other authorised representatives of the holder for the Register account—require the holder to nominate, under section 99, another authorised representative for the account.

Subdivision G—Correction and rectification of Register

103  Correction of clerical errors, obvious defects or unauthorised entries etc.

Power of correction

 (1) The Regulator may alter the Register for the purposes of correcting:

 (a) a clerical error or an obvious defect in the Register; or

 (b) an entry made in the Register without sufficient cause; or

 (c) an entry wrongly existing in the Register; or

 (d) an entry wrongly removed from the Register.

 (2) The Regulator may alter the Register under this section:

 (a) on receiving a request to make the alteration; or

 (b) on the Regulator’s own initiative.

 (3) A request under paragraph (2)(a) must:

 (4) The Regulator must not alter the Register under this section in a manner contrary to a decision of the Federal Court in proceedings under section 104.

Publication of alteration

 (5) If the Regulator alters the Register under this section, the Regulator must cause to be published on the Regulator’s website a notice setting out the details of the alteration.

Notice of decision

 (6) If the Regulator refuses to alter the Register in response to a request to make the alteration, the Regulator must give written notice of the decision and the reasons for the decision to the applicant.

 (7) If the Regulator alters the Register on the Regulator’s own initiative, and the alteration is in relation to a Register account, the Regulator must give written notice of the alteration to the holder (if any) of the Register account as soon as practicable after making the alteration.

104  Rectification of Register

Application for rectification by aggrieved person

 (1) A person (the applicant) may apply to the Federal Court for the rectification of the Register if the applicant is aggrieved by any of the following: