Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Commissioner may, by notice in writing to the registered entity, vary the direction if, at the time of the variation, the Commissioner considers that the variation is necessary and appropriate.
(2) In deciding whether to vary a direction, and deciding the content of the variation, the Commissioner must take account of the matters mentioned in subsection 35 - 10(2).
(3) The direction has effect until the Commissioner revokes it by notice in writing to the registered entity. The Commissioner may revoke the direction if, at the time of revocation, the Commissioner considers that the direction is no longer necessary or appropriate.
(4) In deciding whether to revoke a direction, the Commissioner must take account of the matters mentioned in subsection 35 - 10(2).
(5) Subsection (6) applies if:
(a) either:
(i) the Commissioner gives a direction to the registered entity at a time; or
(ii) the Commissioner varies a direction at a time; and
(b) the Commissioner does not vary or revoke the direction for 12 months after that time.
(6) The Commissioner must consider within a reasonable time after the end of that 12 months whether it would be reasonable to vary or revoke the direction.