sec.97Recording change of conditions

### sec.97 Recording change of conditions This section applies if a holder of a conditional Act instrument receives an information notice under section 95 (3) , or a notice under section 96 (4) , about a change to the conditions of the instrument. The holder must return the instrument to the chief executive within 7 days after receiving the notice, unless the holder has a reasonable excuse. Maximum penalty—10 penalty units. On receiving the instrument, the chief executive must— amend the instrument in an appropriate way and return the amended instrument to the holder; or if the chief executive does not consider it practicable to amend the instrument—issue another instrument, incorporating the changed conditions, to the holder to replace the instrument returned to the chief executive. (sec.97-ssec.1) This section applies if a holder of a conditional Act instrument receives an information notice under section 95 (3) , or a notice under section 96 (4) , about a change to the conditions of the instrument. (sec.97-ssec.2) The holder must return the instrument to the chief executive within 7 days after receiving the notice, unless the holder has a reasonable excuse. Maximum penalty—10 penalty units. (sec.97-ssec.3) On receiving the instrument, the chief executive must— amend the instrument in an appropriate way and return the amended instrument to the holder; or if the chief executive does not consider it practicable to amend the instrument—issue another instrument, incorporating the changed conditions, to the holder to replace the instrument returned to the chief executive. - (a) amend the instrument in an appropriate way and return the amended instrument to the holder; or - (b) if the chief executive does not consider it practicable to amend the instrument—issue another instrument, incorporating the changed conditions, to the holder to replace the instrument returned to the chief executive.