Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A person to whom an authorisation was granted, or another person on behalf of such a person, may apply to the Commission for a revocation of the authorisation.
(2) On receipt of such an application, the Commission must, by notice in writing given to any persons who appear to the Commission to be interested:
(a) indicate that the revocation of the authorisation has been applied for; and
(b) indicate the basis on which the revocation has been applied for; and
(c) invite submissions in respect of the revocation within a period specified by the Commission.
Note: Alternatively, the Commission may rely on consultations undertaken by the AEMC: see section 90B.
(3) If, at any time after granting an authorisation, it appears to the Commission that:
(a) the authorisation was granted on the basis of evidence or information that was false or misleading in a material particular; or
(b) a condition to which the authorisation was expressed to be subject has not been complied with; or
(c) there has been a material change of circumstances since the authorisation was granted;
the Commission may, by notice in writing given to any persons who appear to the Commission to be interested:
(d) inform those persons that it is considering the revocation of the authorisation; and
(e) indicate the basis on which the revocation is being proposed; and
(f) invite submissions in respect of the revocation within a period specified by the Commission.
(3A) Subsection 90(6) (other than paragraph 90(6)(a)) applies in relation to an application for a revocation of an authorisation in a corresponding way to the way in which it applies in relation to an application for an authorisation.
(3B) Subsection 90(6) (other than paragraphs 90(6)(a) and (b)) applies in relation to a proposal for a revocation of an authorisation in a corresponding way to the way in which it applies in relation to an application for an authorisation.
(4) The Commission may make a determination in writing revoking the authorisation, or deciding not to revoke the authorisation, after taking into account the following:
(a) if subsection (2) applies--the application;
(b) any submissions that are received within the period specified under paragraph (2)(c) or (3)(f);
(c) any information received under paragraph 90(6)(b) (as it applies because of subsection (3A) of this section) within the period specified in the notice mentioned in that paragraph;
(d) any information received under paragraph 90(6)(c) (as it applies because of subsection (3A) or (3B) of this section) within the period specified in the notice mentioned in that paragraph;
(e) any information obtained from consultations under paragraph 90(6)(d) (as it applies because of subsection (3A) or (3B) of this section).
The Commission may, but need not, take into account any submissions or information received after the end of those periods.
(5) If an objection to revoking the authorisation is included in any submission or information:
(a) referred to in subsection (4); and
(b) received by the Commission within the period (if any) referred to in that subsection;
the Commission must not make a determination revoking the authorisation unless the Commission is satisfied that it would, if the authorisation had not already been granted, be prevented under subsection 90(7) from granting the authorisation.
(5A) Subsections 90(10B), (12) and (13) apply in relation to an application for a revocation of a merger authorisation that is not an overseas merger authorisation in a corresponding way to the way those subsections apply in relation to an application for a merger authorisation that is not an overseas merger authorisation.
Note: Those subsections deem the Commissioner to have refused to grant the application if the Commission does not determine the application within 90 days (or an extended period in some cases).
(6) An application for revocation may be withdrawn by notice in writing to the Commission at any time.
(7) The Commission may disregard any objection that, in its opinion, is either vexatious or frivolous.