Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The CEO may, by written instrument, suspend the appointment of a person as a nominee of a participant if the CEO has reasonable grounds to believe that the person has caused, or is likely to cause, physical, mental or financial harm to the participant.
(2) If the person's appointment is suspended under subsection (1), the CEO must:
(a) give the person and participant a copy of the instrument of suspension; and
(b) by written notice given to the person, request the person to give the CEO, within 28 days after the notice is given, a statement setting out reasons why the person's appointment should not be cancelled by the CEO under this section.
Cancellation of appointment following suspension
(3) If the person gives the CEO the statement within the 28 - day period, the CEO may, by written instrument, cancel the person's appointment.
(4) The CEO must decide whether to cancel the person's appointment under subsection (3) as soon as practicable after receiving the statement.
(5) If the CEO decides not to cancel the person's appointment under subsection (3):
(a) the suspension of the person's appointment ends; and
(b) the CEO must give the person and participant written notice of the CEO's decision.
(6) If the person does not give the CEO the statement within the 28 - day period, the CEO must, by written instrument, cancel the person's appointment as soon as practicable after that period ends.
Copy of instrument of cancellation to be given
(7) If the person's appointment is cancelled under this
section, the CEO must give the person and participant a copy of the instrument
of cancellation.