National Consumer Credit Protection Act 2009

CHAPTER 6 - COMPLIANCE AND ENFORCEMENT  

PART 6-7A - PRODUCT INTERVENTION ORDERS  

Division 2 - Product intervention orders  

SECTION 301H   EXTENSION OF PRODUCT INTERVENTION ORDERS  

301H(1)    
ASIC may, in accordance with an approval under subsection (4), by legislative instrument, declare that a product intervention order that is in force:

(a) remains in force until it is revoked; or

(b) remains in force for a specified period, unless it is revoked earlier.

Note:

A declaration under this subsection has the effect of overriding any provisions in a product intervention order about the duration of the order: see subsection 301G(3) .

301H(2)    
ASIC may make more than one declaration under subsection (1) in relation to a product intervention order that is in force.

Approval of Minister

301H(3)    
ASIC may, at any time before the order ceases to be in force, give the Minister a report on whether the declaration should be made.

301H(4)    
After considering the report, the Minister may give an approval in writing for the purposes of subsection (1).