Commonwealth Consolidated Acts

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Revocation of product intervention orders

             (1)  Subject to this section, ASIC may, in writing, revoke a product intervention order.

Requirements for revocation of product intervention orders

             (2)  If a declaration under section 1023H is in force in relation to a product intervention order, ASIC must not revoke the order without the Minister's approval, given after considering a report from ASIC on whether the order should be revoked.

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

Revocation of orders that are legislative instruments

             (4)  A revocation of a product intervention order that is a legislative instrument must be by legislative instrument.

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