National Consumer Credit Protection Act 2009

CHAPTER 2 - LICENSING OF PERSONS WHO ENGAGE IN CREDIT ACTIVITIES  

PART 2-2 - AUSTRALIAN CREDIT LICENCES  

Division 6 - When a licence can be suspended, cancelled or varied  

Subdivision C - Miscellaneous rules about suspensions, cancellations and variations  

SECTION 60   DATE OF EFFECT, NOTICE AND PUBLICATION OF VARIATION, CANCELLATION OR SUSPENSION ETC.  

60(1)   [ Written notice must be given]  

ASIC must give a licensee written notice of a variation, suspension, revocation of a suspension, or cancellation of the licensee ' s licence.

60(2)   [ In force when written notice given to licensee]  

A variation, suspension, revocation of a suspension, or cancellation of a licence comes into force when the written notice of that action is given to the licensee.

60(3)   [ Publication]  

As soon as practicable after the notice is given to the licensee, ASIC must publish a notice of the action on ASIC ' s website. The notice must state when the action took effect.