When plan must be revised

In force

(1)

This section applies if—

(a)

a circumstance happens that affects, or may affect, an industry participant’s contingency supply plan complying with the content requirements; and

(b)

the industry participant becomes aware, or ought reasonably to have become aware, of the happening of the circumstance.

(2)

The industry participant must, as soon as practicable, amend or remake the plan so that it complies with the content requirements.Maximum penalty—500 penalty units.

(3)

For subsection (2), the plan is not amended or remade until the regulator is given a copy.

This Act’s bill:Explanatory memorandum

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242 When plan must be revised