Document ID: chunk:federal_register_of_legislation:F2020L01628:reg:8
Version: federal_register_of_legislation:F2020L01628
Segment Type: reg
Provision Reference: reg 8
Character Range: 7786–8868

8  Decision to accredit or refuse to accredit a voluntary arrangement
 (1) This section applies if the administrator of a voluntary arrangement applies for the arrangement to be accredited in relation to a product.
 (2) The Minister:
 (a) must decide whether to accredit, or refuse to accredit, the voluntary arrangement in relation to the product; and
 (b) if the Minister decides to accredit the arrangement—may, by written notice, do either or both of the following:
 (i) specify a day on which the accreditation takes effect;
 (ii) specify a day on which the accreditation ceases to have effect.
Note 1: The Minister is the accrediting authority (see paragraph 70(3)(c) of the Act).
Note 2: For when accreditation takes effect and ceases to have effect, see section 11.
Note 3: See Part 6 of Chapter 4 of the Act for review of a decision to refuse to accredit a voluntary arrangement and requirements to give notice of such a decision.
 (3) A day specified for the purposes of subparagraph (2)(b)(ii) must not be more than 5 years after the day the accreditation takes effect.