Amendment of conditions imposed by regulator
173 Amendment of conditions imposed by regulator
The regulator may amend the conditions imposed on a declared scheme by the regulator by revoking or varying the conditions or imposing new conditions.
The regulator may act under subsection (1) on the regulator’s own initiative or at the request of the declaration holder.
The revocation of conditions, or the amendment of conditions at the request of the declaration holder, has effect when written notice of the amendment is given to the declaration holder.
If the regulator refuses to amend the conditions as requested by the declaration holder, the regulator must give the declaration holder an information notice for the decision to refuse.
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