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 7.3B - CRISIS RESOLUTION FOR CS FACILITY LICENSEES  

Division 5 - Directions  

Subdivision B - Directions to give information to assist crisis management  

SECTION 841B   MATTERS RELATING TO RESERVE BANK DIRECTIONS - INFORMATION TO ASSIST CRISIS MANAGEMENT  

Variation or revocation

841B(1)    
The Reserve Bank may vary a direction given to a person under subsection 841A(1) if paragraphs 841A(1)(b) and (c) would apply in relation to the direction as varied.

841B(2)    
The Reserve Bank may revoke a direction given to a person under subsection 841A(1) if the Reserve Bank:

(a)    no longer reasonably believes that the specified information, the specified documents or documents containing the specified information would assist the Reserve Bank to manage or respond to a condition in section 831A being satisfied in relation to the relevant CS facility licensee, including because the condition is not satisfied; or

(b)    no longer reasonably believes that the person can give the Reserve Bank the specified information, the specified documents or documents containing the specified information.

841B(3)    
The variation or revocation must be given to the person in writing.

Directions are not legislative instruments

841B(4)    
A direction given under subsection 841A(1) , a variation under subsection (1) of this section or a revocation under subsection (2) of this section is not a legislative instrument.