92Cancellation or suspension of registration

92 Cancellation or suspension of registration

92 Cancellation or suspension of registration

(1) This section applies in respect of a registered person if—

(a) the Regulator considers that the registered person—

(i) is no longer able to demonstrate to the satisfaction of the Regulator the matters referred to in section 85 or to satisfy the conditions, or to comply with the restrictions, of the registration; or

(ii) is not controlling or managing the private siding and has not done so for at least the preceding 12 months; or

(b) the registered person contravenes this Law.

(2) The Regulator may—

(a) suspend the registration of the registered person for a period determined by the Regulator; or

(b) cancel the registration of the registered person with immediate effect or with effect from a specified future date; or

(c) impose conditions or restrictions on the registration; or

(d) vary conditions or restrictions to which the registration is subject.

(3) Before making a decision under subsection (2), the Regulator—

(a) must notify the person in writing—

(i) that the Regulator is considering making a decision under subsection (2) of the kind, and for the reasons, specified in the notice; and

(ii) that the person may, within 28 days or such longer period as is specified in the notice, make written representations to the Regulator showing cause why the decision should not be made; and

(b) must consider any representations made under paragraph (a)(ii) and not withdrawn.

(4) If the Regulator suspends or cancels the registration of the registered person, the Regulator must include in the notice of suspension or cancellation the reasons for the suspension or cancellation and information about the right of review under Part 7.

(5) The Regulator may withdraw a suspension of the registration of a person by written notice given to the person.

s 92: Am 2015 No 5, sec 13.