sec.86Suspension or cancellation

### sec.86 Suspension or cancellation This section applies if, after considering the accepted representations for the show cause notice, the chief executive— still believes a ground exists to suspend or cancel the instrument; and believes suspension or cancellation of the instrument is warranted. This section also applies if there are no accepted representations for the show cause notice. The chief executive may— if the proposed action stated in the show cause notice was to suspend the instrument for a stated period—suspend the instrument for not longer than the stated period; or if the proposed action stated in the show cause notice was to cancel the instrument—either cancel the instrument or suspend it for a period. The chief executive must immediately give an information notice about the decision to the holder of the instrument. The decision takes effect on— the day the information notice is given to the holder; or if a later day of effect is stated in the information notice—the later day. (sec.86-ssec.1) This section applies if, after considering the accepted representations for the show cause notice, the chief executive— still believes a ground exists to suspend or cancel the instrument; and believes suspension or cancellation of the instrument is warranted. (sec.86-ssec.2) This section also applies if there are no accepted representations for the show cause notice. (sec.86-ssec.3) The chief executive may— if the proposed action stated in the show cause notice was to suspend the instrument for a stated period—suspend the instrument for not longer than the stated period; or if the proposed action stated in the show cause notice was to cancel the instrument—either cancel the instrument or suspend it for a period. (sec.86-ssec.4) The chief executive must immediately give an information notice about the decision to the holder of the instrument. (sec.86-ssec.5) The decision takes effect on— the day the information notice is given to the holder; or if a later day of effect is stated in the information notice—the later day. - (a) still believes a ground exists to suspend or cancel the instrument; and - (b) believes suspension or cancellation of the instrument is warranted. - (a) if the proposed action stated in the show cause notice was to suspend the instrument for a stated period—suspend the instrument for not longer than the stated period; or - (b) if the proposed action stated in the show cause notice was to cancel the instrument—either cancel the instrument or suspend it for a period. - (a) the day the information notice is given to the holder; or - (b) if a later day of effect is stated in the information notice—the later day.