Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A variation, suspension, revocation of a suspension, or cancellation, of an Australian financial services licence takes effect when the written notice of that action is given to the licensee.
(2) As soon as practicable after the notice is given to the licensee, ASIC must:
(a) publish a notice of the action in the Gazette ; and
(b) if the licensee is a participant in a licensed market or a licensed CS facility--give written notice of the action to the operator of the market or facility.
A notice under this subsection must state when the action took effect.