Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.9A - PRODUCT INTERVENTION ORDERS  

SECTION 1023J   AMENDMENT OF PRODUCT INTERVENTION ORDERS  

1023J(1)    
Subject to this section, ASIC may, in writing, amend a product intervention order that is in force.

Requirements before amending product intervention orders

1023J(2)    
If a declaration under section 1023H is in force in relation to a product intervention order, ASIC must not amend the order without the Minister ' s approval, given after considering a report from ASIC on whether the amendment should be made.

1023J(3)    
ASIC may, at any time before the order ceases to be in force, give the Minister a report on whether the amendment should be made.

Amendments of product intervention orders

1023J(4)    
An amendment of a product intervention order must not be such that the order remains in force for a period longer than the maximum period determined for the order in accordance with subsection 1023G(2) or 1023H(1) .

1023J(5)    
An amendment of a product intervention order comes into force:

(a) for an amendment of an order that is a legislative instrument - on the day after the amendment is registered under the Legislation Act 2003 ; or

(b) otherwise - on the day after the day on which the notice under subsection 1023L(6) in relation to the amendment is published;

or a later day specified in the amendment.

Amendments of orders that are legislative instruments

1023J(6)    
An amendment of a product intervention order that is a legislative instrument must be by legislative instrument.