Notification of proposed regulatory action
164C Notification of proposed regulatory action
Before the regulator takes regulatory action against a licensee, the regulator must give the licensee a written notice (a show cause notice) stating—
the grounds on which, under section 164B, the regulator considers regulatory action may be taken; and
details of the proposed regulatory action; and
that the licensee may, not later than 14 days after the day the licensee is given the notice, give a written submission to the regulator about the proposed regulatory action.
The regulator must consider any written submission received by the regulator in response to the show cause notice when making a decision to take regulatory action against the licensee.
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