123ESuspension and revocation of nominee appointments

123E  Suspension and revocation of nominee appointments  (1) If a person who is a nominee by virtue of an appointment under section 123B or 123C informs the Secretary in writing that the person no longer wishes to be a nominee under that appointment, the Secretary must, as soon as practicable, revoke the appointment.  (a) the Secretary gives a person who is a nominee a notice under section 123K; and  (b) the person informs the Department that:  (i) an event or change of circumstances has occurred or is likely to occur; and  (ii) the event or change of circumstances is likely to have an effect referred to in paragraph 123K(1)(b); the Secretary may suspend or revoke the appointment by virtue of which the person is a nominee.  (a) the Secretary gives a person who is a nominee a notice under section 123K or 123L; and the Secretary may suspend or revoke the appointment, or each appointment, by virtue of which the person is a nominee.  (4) While an appointment is suspended, the appointment has no effect for the purposes of this Part.  (5) The Secretary may, at any time, cancel the suspension of an appointment under subsection (2) or (3).  (6) The suspension or revocation of an appointment, and the cancellation of such a suspension, must be in writing.  (7) The revocation of an appointment has effect on and from such day, being later than the day of the revocation, as is specified in the revocation.  (8) Subsections (2) and (3) do not apply to a person who is a payment nominee by virtue of paragraph (b) of the definition of payment nominee in section 123A.  (9) The Secretary must cause a copy of:  (a) a suspension of an appointment; or  (b) a revocation of an appointment; or  (c) a cancellation of a suspension of an appointment; to be given to:  (d) the nominee; and  (e) the principal. Division 3—Payments to payment nominee