Corporations Legislation Amendment (Simpler Regulatory System) Act 2007 (101 of 2007)

Schedule 1   Amendments

Part 2   Amendments commencing on 1 July 2007

Corporations Act 2001

189   Subsection 151(3)

Repeal the subsection, substitute:

(3) ASIC may revoke the company's licence if:

(a) the company does anything set out in paragraphs (2)(a) to (e); or

(b) the company fails to notify ASIC in accordance with subsection (2AA).