112Amendment of security requirements

112 Amendment of security requirements

(1) If the licence holder: (a) has been provisionally granted a renewal of the licence under section 108 or 109; and (b) is notified of a security requirement; and (c) is dissatisfied with the amount of the security required; the holder may ask the Joint Authority to make a new determination under section 399. (2) The request must: (a) be made within 30 days after the day on which the holder is given notice under section 110; and (b) be lodged with the Designated Authority. (3) If the Joint Authority is given a request under subsection (1), the Authority may make a new determination under section 399. (4) The Joint Authority must give the holder written notice of the new determination.