Document ID: chunk:federal_register_of_legislation:C2024A00087:clause:1_840b
Version: federal_register_of_legislation:C2024A00087
Segment Type: clause
Provision Reference: sch 1 cl 840B
Character Range: 92067–93121

840B  Matters relating to Reserve Bank directions—manage or respond to crisis

Variation or revocation
 (1) The Reserve Bank may, in writing, vary a direction given to a person under subsection 840A(1) if the Reserve Bank reasonably believes that the direction, as varied, would be appropriate to manage or respond to a condition in section 831A being satisfied in relation to the relevant CS facility licensee.
 (2) The Reserve Bank may revoke a direction given to a person under subsection 840A(1) if the Reserve Bank no longer reasonably believes that the direction is appropriate to manage or respond to a condition in section 831A being satisfied in relation to the relevant CS facility licensee, including because the condition is not satisfied.
 (3) The variation or revocation must be given to the person in writing.

Directions are not legislative instruments
 (4) A direction given under subsection 840A(1), a variation under subsection (1) of this section or a revocation under subsection (2) of this section is not a legislative instrument.