sec.67ANNotice by commission to company for which a banned individual is a director, secretary, influential person or nominee

### sec.67AN Notice by commission to company for which a banned individual is a director, secretary, influential person or nominee This section applies if the commission considers that a company that is a licensee has an individual who is a banned individual as a director or secretary of, or an influential person or nominee for, the company. The commission must give the company a written notice stating— particulars identifying the individual (the relevant individual ) the commission considers is a director or secretary of, or an influential person or nominee for, the company; and A company may have the commission’s decision reviewed under section 86 (1) (o) . that the relevant individual must stop being a director, secretary, influential person or nominee within 28 days after the commission gives the company the written notice; and the commission must cancel the company’s licence if the relevant individual does not stop being a director, secretary, influential person or nominee within the 28 days mentioned in paragraph (b) . The commission must cancel the company’s licence by written notice given to the company if the relevant individual does not stop being a director, secretary, influential person or nominee within the 28 days mentioned in subsection (2) (b) . Section 49 does not apply to a cancellation under subsection (3) . s 67AN ins 2003 No. 1 s 33 amd 2013 No. 38 s 14 sch 1 (sec.67AN-ssec.1) This section applies if the commission considers that a company that is a licensee has an individual who is a banned individual as a director or secretary of, or an influential person or nominee for, the company. (sec.67AN-ssec.2) The commission must give the company a written notice stating— particulars identifying the individual (the relevant individual ) the commission considers is a director or secretary of, or an influential person or nominee for, the company; and A company may have the commission’s decision reviewed under section 86 (1) (o) . that the relevant individual must stop being a director, secretary, influential person or nominee within 28 days after the commission gives the company the written notice; and the commission must cancel the company’s licence if the relevant individual does not stop being a director, secretary, influential person or nominee within the 28 days mentioned in paragraph (b) . (sec.67AN-ssec.3) The commission must cancel the company’s licence by written notice given to the company if the relevant individual does not stop being a director, secretary, influential person or nominee within the 28 days mentioned in subsection (2) (b) . (sec.67AN-ssec.4) Section 49 does not apply to a cancellation under subsection (3) . - (a) particulars identifying the individual (the relevant individual ) the commission considers is a director or secretary of, or an influential person or nominee for, the company; and Note— A company may have the commission’s decision reviewed under section 86 (1) (o) . - (b) that the relevant individual must stop being a director, secretary, influential person or nominee within 28 days after the commission gives the company the written notice; and - (c) the commission must cancel the company’s licence if the relevant individual does not stop being a director, secretary, influential person or nominee within the 28 days mentioned in paragraph (b) .