698Notice of amendment or cancellation

698 Notice of amendment or cancellation

(1)  The regulator must give written notice of the amendment or cancellation of an exemption, within 14 days after making the decision to amend or cancel the exemption, to –

(a) if a person applied for the exemption, the applicant; or

(b) if the regulator granted the exemption on its own initiative, each person (other than persons to whom subregulation (2) applies) to whom the exemption applies.

(2)  [Regulation 698 Subregulation (2) amended by S.R. 2024, No. 30, Applied:01 Jul 2024] If the exemption affects a class of persons or is granted under regulation 689A(1) , the regulator must publish notice of the amendment or cancellation of the exemption in the Gazette.

(3)  The notice must state the regulator's reasons for the amendment or cancellation.

(4)  The amendment or cancellation takes effect –

(a) on the publication of the notice in the Gazette, or on a later date specified in the notice; or

(b) if the notice is not required to be published in the Gazette, on the giving of the notice to the applicant under subregulation (1) or on a later date specified in the notice.

(5)  A notice referred to in this regulation is not –

(a) a statutory rule for the purposes of the Rules Publication Act 1953 ; or

(b) subordinate legislation for the purposes of the Subordinate Legislation Act 1992 .