Commonwealth Consolidated Acts

NATIONAL CONSUMER CREDIT PROTECTION ACT 2009 - SECT 301K

  (1)   Subject to this section, ASIC may, in writing, revoke a product intervention order.

Requirements for revocation of product intervention orders

  (2)   If a declaration under section   301H is in force in relation to a product intervention order, ASIC must not revoke the order without the Minister's approval, given after considering a report from ASIC on whether the order should be revoked.

  (3)   ASIC may, at any time before the order ceases to be in force, give the Minister a report on whether the order should be revoked.

Revocation of orders that are legislative instruments

  (4)   A revocation of a product intervention order that is a legislative instrument must be by legislative instrument.