National Consumer Credit Protection Act 2009

CHAPTER 6 - COMPLIANCE AND ENFORCEMENT  

PART 6-7A - PRODUCT INTERVENTION ORDERS  

Division 2 - Product intervention orders  

SECTION 301J   AMENDMENT OF PRODUCT INTERVENTION ORDERS  

301J(1)    
Subject to this section, ASIC may, in writing, amend a product intervention order that is in force.

Requirements before amending product intervention orders

301J(2)    
If a declaration under section 301H 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.

301J(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

301J(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 301G(2) or 301H(1) .

301J(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 301L(6) in relation to the amendment is published;

or a later day specified in the amendment.

Amendments of orders that are legislative instruments

301J(6)    
An amendment of a product intervention order that is a legislative instrument must be by legislative instrument.