(1)

If the Designated Authority gives a titleholder a notice under regulation 12 , the titleholder may give an objection, in writing, to the Designated Authority:

(a)

stating one or more of the following:

(i)

that the variation should not occur;

(ii)

that the variation should be in terms different from the proposed terms;

(iii)

that the variation should take effect on a date later than the proposed date; and

(b)

giving reasons for the objection.

(2) The titleholder must make the objection within:

(a)

21 days after receiving the notice; or

(b)

if the Designated Authority, in writing, allows a longer period — that period.

(3)

If the titleholder does not make an objection, the Designated Authority must notify the titleholder of the effect of regulation 15.