55Proposed decision to give direction

55 Proposed decision to give direction

(1) Before giving a direction under subsection 53(1) to a licence holder, the Regulator must give the licence holder written notice of the proposed direction. (2) The notice must: (a) set out the proposed direction; and (b) set out the Regulator’s reasons for giving the proposed direction; and (c) invite the licence holder to make a written submission about the proposed direction; and (d) specify the day on or before which the submission must be made. (3) The day specified for the purposes of paragraph (2)(d) must be reasonable. (4) If the licence holder makes a submission on or before the day specified for the purposes of paragraph (2)(d): (a) the Regulator must take the submission into account in deciding whether or not to give the direction; and (b) if the Regulator decides not to give the direction—may give the licence holder a different direction under subsection 53(1) instead, and need not comply with this section in relation to the different direction.