Document ID: chunk:federal_register_of_legislation:C2025C00189:section:153y
Version: federal_register_of_legislation:C2025C00189
Segment Type: section
Provision Reference: s 153Y
Character Range: 2069052–2071003

153Y  Variation and revocation of contracting order
 (1) The Treasurer may, in writing, vary or revoke a contracting order in respect of a body corporate, on the Treasurer's own initiative or on application made by the body corporate.
 (2) The Treasurer cannot make a variation under subsection (1) unless the Treasurer is satisfied that:
 (a) the order as varied is a proportionate means of preventing the relevant corporation, or any related body corporate, from engaging in the kind of prohibited conduct (mentioned in the order) in the future; and
 (b) if the body corporate does not consent to the variation—the variation is minor or insubstantial, or all of the following conditions are met:
 (i) the corporation or any related body corporate gave the Treasurer or the Commission information relevant to the prohibited conduct recommendation that is false or misleading in a material particular, or failed to give the Treasurer or the Commission information relevant to the prohibited conduct recommendation that is not publicly available;
 (ii) the variation is reasonably necessary to address the circumstances described in subparagraph (i).
 (3) A variation can be of a kind that results in the order, as varied, not being of a kind recommended in the prohibited conduct recommendation (in accordance with paragraph 153S(2)(d)).
 (4) The Treasurer need not consider an application by the body corporate to vary or revoke a contracting order if the application is made after:
 (a) if there is only one period mentioned in paragraph 153X(3)(d)—that period has ended; or
 (b) if there is more than one such period—all of those periods have ended.
 (5) The Treasurer must publish, by electronic or other means, the following information:
 (a) the fact that the variation or revocation has been made;
 (b) the day on which the variation or revocation is made;
 (c) the name of the body corporate.

Subdivision B—Enforcement of contracting orders