17
CurrentRevocation of approval
Part 3Approval of institutions
Division 2Revocation of approval
17 Revocation of approval
(1)
The Minister may revoke an approval of a borrowing institution by notice given to the institution and published on the Department’s website if the Minister is satisfied:
(a)
that there has been:
(i)
a contravention of a regulation involving the institution; or
(ii)
a contravention of any conditions on the approval; or
(b)
that the approval should be revoked, having regard to the matters described in paragraphs 15(2)(a), (b), (c), (d), (e) and (f) and any other relevant matters.
(2)
A notice under subsection (1) is not a legislative instrument.
This Act’s bill:Explanatory memorandumSecond reading speech
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