385Revocation of approval

385 Revocation of approval (1) The Authority, in accordance with this section, may revoke the approval of an employer as a self‑insurer if— (a) the Authority is of the opinion that the employer is no longer capable of meeting its claims liabilities as and when they fall due; or (b) the employer becomes the subsidiary of another body corporate (other than a foreign company within the meaning of the Corporations Act that is not a registered foreign company within the meaning of that Act); or (c) having regard to the matters specified in section 379(4), the Authority is not satisfied that the employer is fit and proper to be a self-insurer; or (d) the employer by notice in writing given to the Authority, requests that the approval be revoked; or (e) the employer has failed to comply with— (i) this Act or the regulations; or (ii) any terms or conditions of its approval as a self-insurer; or (iii) a Ministerial Order; or (iv) any other subordinate instrument made under this Act or the regulations. (2) The Authority, in accordance with this section, may revoke the approval of an employer as a self‑insurer if, on the basis of a review conducted under section 384, the Authority is of the opinion that the approval should be revoked. (3) The Authority must not revoke the approval of an employer as a self-insurer unless the Authority has given not less than 28 days notice in writing to the employer stating— (a) the Authority's intention to revoke the approval; and (b) the reasons for the intended revocation; and (c) that the employer may, within 28 days after receiving the notice, make a written submission to the Authority. (4) If the approval of the employer is revoked at the request of the employer— (a) subsection (3) does not apply; and (b) the Authority may give the employer a written notice of revocation at any time after receiving the request. (5) If, within the time allowed under subsection (3)(c), the Authority receives a written submission from the employer, the Authority must consider the submission before deciding whether or not to revoke the approval of the employer as a self-insurer. (6) If, after the expiry of the 28 days notice and after considering any submission from the employer, the Authority decides to revoke the approval of the employer as a self-insurer, the Authority must give the employer a written notice of revocation. (7) The revocation of an approval of an employer as a self-insurer takes effect immediately after the day on which the notice of the revocation is given to the employer.