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 7.9A - PRODUCT INTERVENTION ORDERS  

SECTION 1023H   EXTENSION OF PRODUCT INTERVENTION ORDERS  

1023H(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 1023G(3) .

1023H(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

1023H(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.

1023H(4)    
After considering the report, the Minister may give an approval in writing for the purposes of subsection (1).