sec.64Procedure for amendment, suspension or cancellation

### sec.64 Procedure for amendment, suspension or cancellation If the board reasonably believes it is necessary or desirable to amend, suspend or cancel a registration or registration endorsement (the proposed action ), other than at the request of the registrant, the board must give the registrant a written notice that states each of the following— the proposed action; and the ground for the proposed action; and an outline of the facts and circumstances forming the basis for the ground; and if the proposed action is amendment of the registration or registration endorsement—the proposed amendment; and if the proposed action is suspension of the registration or registration endorsement—the proposed suspension period; and an invitation to show, within a stated period of at least 20 business days, why the proposed action should not be taken. If, after considering all written representations made within the stated period, the board still considers the ground to take the proposed action exists, the board may— if the proposed action was to amend the registration or registration endorsement—amend it in the way stated in the notice; or if the proposed action was to suspend the registration or registration endorsement for a specified period—suspend it for not longer than the proposed suspension period; or if the proposed action was to cancel the registration or registration endorsement—either cancel it or suspend it for a period. The board must inform the registrant of the decision by written notice. If the board decides to amend, suspend or cancel the registration or registration endorsement, the notice must be an information notice. A decision to amend, suspend or cancel the registration takes effect on the later of— the day when the information notice is given to the registrant; or the day of effect stated in the information notice. The effect of an amendment does not depend on the amendment being noted on the registration certificate. (sec.64-ssec.1) If the board reasonably believes it is necessary or desirable to amend, suspend or cancel a registration or registration endorsement (the proposed action ), other than at the request of the registrant, the board must give the registrant a written notice that states each of the following— the proposed action; and the ground for the proposed action; and an outline of the facts and circumstances forming the basis for the ground; and if the proposed action is amendment of the registration or registration endorsement—the proposed amendment; and if the proposed action is suspension of the registration or registration endorsement—the proposed suspension period; and an invitation to show, within a stated period of at least 20 business days, why the proposed action should not be taken. (sec.64-ssec.2) If, after considering all written representations made within the stated period, the board still considers the ground to take the proposed action exists, the board may— if the proposed action was to amend the registration or registration endorsement—amend it in the way stated in the notice; or if the proposed action was to suspend the registration or registration endorsement for a specified period—suspend it for not longer than the proposed suspension period; or if the proposed action was to cancel the registration or registration endorsement—either cancel it or suspend it for a period. (sec.64-ssec.3) The board must inform the registrant of the decision by written notice. (sec.64-ssec.4) If the board decides to amend, suspend or cancel the registration or registration endorsement, the notice must be an information notice. (sec.64-ssec.5) A decision to amend, suspend or cancel the registration takes effect on the later of— the day when the information notice is given to the registrant; or the day of effect stated in the information notice. (sec.64-ssec.6) The effect of an amendment does not depend on the amendment being noted on the registration certificate. - (a) the proposed action; and - (b) the ground for the proposed action; and - (c) an outline of the facts and circumstances forming the basis for the ground; and - (d) if the proposed action is amendment of the registration or registration endorsement—the proposed amendment; and - (e) if the proposed action is suspension of the registration or registration endorsement—the proposed suspension period; and - (f) an invitation to show, within a stated period of at least 20 business days, why the proposed action should not be taken. - (a) if the proposed action was to amend the registration or registration endorsement—amend it in the way stated in the notice; or - (b) if the proposed action was to suspend the registration or registration endorsement for a specified period—suspend it for not longer than the proposed suspension period; or - (c) if the proposed action was to cancel the registration or registration endorsement—either cancel it or suspend it for a period. - (a) the day when the information notice is given to the registrant; or - (b) the day of effect stated in the information notice.