Australian Capital Territory Numbered Regulations Australian Capital Territory Numbered Regulations(1) If the Minister decides to suspend or revoke an insurer's approval, the Minister must tell the insurer in writing about the decision and when the suspension or revocation takes effect.
Note The Minister's notice must comply with the requirements of the Act, section 208.
(2) A suspension or revocation must not take effect earlier than 7 days after the day the insurer is told about the decision.
(3) Subject to the Act, section 146 (Effect of revocation or suspension of approval), if the Minister suspends an insurer's approval, the insurer is, during the suspension—
(a) taken not to be an approved insurer; and
(b) disqualified from applying for approval as an insurer.
(4) The Minister may, at any time, by written notice to the insurer, end or reduce the period of suspension of the insurer's approval.