Cancellation, variation or revocation of certificate
13 Cancellation, variation or revocation of certificate
Where the Secretary is satisfied that:
an entitlement certificate was issued to a person as a result of a false or misleading statement made by the person; or
an entitlement certificate was issued to a person who, when it was so issued, was not entitled to it;
the Secretary may, by written notice of cancellation given to the person, cancel the certificate.
If the Secretary is satisfied that a certificate issued to a person by the Secretary contains an error or omission, the Secretary may, by notice in writing:
vary the certificate; or
revoke the certificate and substitute another;
and, where the Secretary does so, the varied or substituted certificate has effect as if it had been issued at the time the original certificate was issued.
If the Secretary cancels a certificate under subsection (1), the Secretary must give a copy of the notice of cancellation to the Bank.
If the Secretary varies a certificate, or revokes a certificate and substitutes another, under subsection (2), the Secretary must give copies of the notice of variation or of the notice of revocation and substitution, as the case requires, to the person concerned and to the Bank.
This Act’s bill:Second reading speech
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