sec.153CWhat chief executive must do before taking proposed action, other than for class exemption

### sec.153C What chief executive must do before taking proposed action, other than for class exemption This section applies if the chief executive proposes to amend, suspend or cancel an exemption, other than a class exemption (the proposed action ). Before taking the proposed action, the chief executive must give the holder written notice stating— the proposed action; and the grounds for the proposed action; and an outline of the facts and circumstances forming the basis for the grounds; and if the proposed action is to amend the exemption, including a condition of the exemption—the proposed amendment; and if the proposed action is to suspend the exemption—the proposed suspension period; and an invitation to the holder to show in writing, within a stated time of at least 28 days, why the proposed action should not be taken. s 153C ins 2008 No. 67 s 87 (sec.153C-ssec.1) This section applies if the chief executive proposes to amend, suspend or cancel an exemption, other than a class exemption (the proposed action ). (sec.153C-ssec.2) Before taking the proposed action, the chief executive must give the holder written notice stating— the proposed action; and the grounds for the proposed action; and an outline of the facts and circumstances forming the basis for the grounds; and if the proposed action is to amend the exemption, including a condition of the exemption—the proposed amendment; and if the proposed action is to suspend the exemption—the proposed suspension period; and an invitation to the holder to show in writing, within a stated time of at least 28 days, why the proposed action should not be taken. - (a) the proposed action; and - (b) the grounds for the proposed action; and - (c) an outline of the facts and circumstances forming the basis for the grounds; and - (d) if the proposed action is to amend the exemption, including a condition of the exemption—the proposed amendment; and - (e) if the proposed action is to suspend the exemption—the proposed suspension period; and - (f) an invitation to the holder to show in writing, within a stated time of at least 28 days, why the proposed action should not be taken.