Revocation of Part 13 exemption
302K Revocation of Part 13 exemption
The Minister may, by written instrument, revoke a Part 13 exemption, on the Minister’s initiative, if the Minister reasonably believes that:
the exemption is no longer in the national interest; or
a condition of the exemption has been contravened.
The Minister may request information to make an informed decision under subsection 302N(1).
For paragraph (a), subsection 302D(2) applies in relation to determining the national interest.
A Part 13 exemption is taken to be revoked if the Minister decides to accept the surrender of the exemption under section 302M.
A revocation comes into force on the day specified in the revocation (which must not be earlier than the day the revocation is made).
A revocation made under subsection (1) is not a legislative instrument.
This Act’s bill:Explanatory memorandumSecond reading speech
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