Surrender of licence
134 Surrender of licence
A licensed supplier may surrender its supplier’s licence by written notice given to the commissioner.
The notice must—
be in the approved form; and
be accompanied by the licence.
The commissioner must give the licensed supplier a notice stating the day the surrender is to take effect.
The day stated by the commissioner must be—
at least 1 month after the day the notice was given; but
not longer than 3 months after the day the notice was given.
If the licensed supplier is a licensed monitoring operator, the licensed supplier must give a copy of the notice of surrender to—
any licensee to whom the licensed supplier is supplying basic monitoring services; and
any other licensed monitoring operator using the electronic monitoring system of the licensed supplier, or a part of the system, to supply basic monitoring services to licensees.
Maximum penalty for subsection (5)—40 penalty units.
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