34CVariation of licence by Regulator

34C Variation of licence by Regulator

(1) The Regulator, at the Regulator's own initiative, may vary a licence in accordance with this section.

(2) If the Regulator proposes to vary a licence under this section, the Regulator must give the licensee written notice of the proposed variation.

(3) The licensee may object to the proposed variation by giving a written notice of objection to the Regulator within 21 days after receiving a notice under subsection (2).

(4) If, after considering any objection made by the licensee under subsection (3), the Regulator is satisfied that the licence should be varied, the Regulator may vary the licence—

(a) as originally proposed; or

(b) as otherwise considered appropriate.

(5) If the Regulator decides not to vary the licence under this section, the Regulator must give written notice to the licensee as soon as practicable.

S. 34D inserted by No. 51/2024 s. 8.