Amendment of product intervention orders
301J Amendment of product intervention orders
Subject to this section, ASIC may, in writing, amend a product intervention order that is in force.
Requirements before amending product intervention orders
If a declaration under section 301H is in force in relation to a product intervention order, ASIC must not amend the order without the Minister’s approval, given after considering a report from ASIC on whether the amendment should be made.
ASIC may, at any time before the order ceases to be in force, give the Minister a report on whether the amendment should be made.
Amendments of product intervention orders
An amendment of a product intervention order must not be such that the order remains in force for a period longer than the maximum period determined for the order in accordance with subsection 301G(2) or 301H(1).
An amendment of a product intervention order comes into force:
for an amendment of an order that is a legislative instrument—on the day after the amendment is registered under the Legislation Act 2003; or
otherwise—on the day after the day on which the notice under subsection 301L(6) in relation to the amendment is published;
or a later day specified in the amendment.
Amendments of orders that are legislative instruments
An amendment of a product intervention order that is a legislative instrument must be by legislative instrument.
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