Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_823d:p2
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 823D (pt 2/2)
Character Range: 157599–158666

after making or varying (see subsection (9)) a direction, ASIC must:
 (a) give a copy of the direction or variation to:
 (i) if the direction relates to a specified financial product—the issuer of that product; and
 (ii) each of the operators mentioned in subsection (2); and
 (b) give a written report to the Minister setting out ASIC's reasons for making the direction or variation; and
 (c) give a copy of the report to the licensee.

 (8) If, at any time after the licensee receives ASIC's advice under subsection (1), the licensee requests in writing that ASIC refer the matter to the Minister, ASIC must do so immediately. In that event, the Minister may, if he or she considers it appropriate, require ASIC not to make, or to revoke, the direction. ASIC must immediately comply with such a requirement.

 (9) ASIC may vary a direction by giving written notice to the licensee.

 (10) ASIC may revoke a direction by giving written notice to the licensee. ASIC must also give written notice of the revocation to each of the operators mentioned in subsection (2).