Document ID: chunk:federal_register_of_legislation:F2024C00913:reg:8:p75
Version: federal_register_of_legislation:F2024C00913
Segment Type: reg
Provision Reference: reg 8 (pt 75/105)
Character Range: 575585–578095

any time, had an ASIC cancelled under paragraph 6.43(2)(b), (bb), (c), (d) or (db).
 (2) However, paragraph (1)(c) does not apply if the cancellation was set aside and the ASIC reinstated.
 (3) An issuer must cancel a VIC or TAC issued by the issuer (or its agent) if:
 (a) the holder of the VIC or TAC also holds a red ASIC or a grey ASIC; and
 (b) the issuer finds out that the Secretary has directed the issuing body that issued the ASIC to suspend the ASIC under regulation 6.42A.
 (3A) An issuer must immediately cancel a VIC issued by the issuer (or its agent) if the issuer finds out that the holder of the VIC has, at any time, been refused an ASIC.
 (3B) However, subregulation (3A) does not apply if the refusal was set aside.
 (4) An issuer commits an offence if the issuer is required to cancel a VIC or TAC under subregulation (1), (3) or (3A) and fails to do so.
Penalty: 100 penalty units.
 (5) An issuer may cancel a VIC or TAC issued by the issuer (or its agent) if:
 (a) the holder of the VIC or TAC contravenes Subdivision 3.2.1; or
 (b) if the card is a VIC—the holder of the VIC contravenes a condition of the VIC; or
 (c) the VIC or TAC is altered or defaced (permanently or temporarily).
 (6) For paragraphs (5)(a) and (b), the issuer must consider:
 (a) the kind and seriousness of each contravention; and
 (b) whether the holder of the VIC or TAC has previously contravened Subdivision 3.2.1 or a condition of any ASIC or VIC the person has held.
 (7) As soon as practicable after an issuer cancels a VIC or TAC under this regulation, the issuer must tell the holder of the VIC or TAC that the VIC or TAC has been cancelled and the reasons for the cancellation.
Penalty: 10 penalty units.
Note: See section 266 of the Administrative Review Tribunal Act 2024 for the requirements for the decision‑maker to notify persons whose interests are affected by the decision of the making of the decision and their right to have the decision reviewed.
 (8) A cancellation under this regulation takes effect when the holder is notified of the cancellation.

6.44  Report of cancellation of ASICs, VICs and TACs in certain cases
 (1) If an issuer cancels:
 (a) an ASIC in the circumstances mentioned in paragraph 6.43(2)(c) or (d); or
 (b) a VIC or TAC because the issuer finds out the holder has had an ASIC cancelled in the circumstances mentioned in paragraph 6.43(2)(c) or (d); or
 (c) a VIC under subregulation 6.43F(3A);
the issuer must, within 7 days of the cancellation, give the Secretary