Document ID: chunk:federal_register_of_legislation:C2024A00065:clause:1_10g
Version: federal_register_of_legislation:C2024A00065
Segment Type: clause
Provision Reference: sch 1 cl 10G
Character Range: 21673–23399

10G  Revocation of subsidiary reporting entity determination

Revocation by Regulator
 (1) The Regulator may revoke a determination under subsection 10E(1) by written notice given to the subsidiary reporting entity to which the determination relates.
Note: A decision to revoke a determination that an entity is a subsidiary reporting entity is reviewable: see section 51.
 (2) A revocation under subsection (1) takes effect at the time specified in the notice, which must be either:
 (a) the start of the reporting period of the entity in which the Regulator gives the notice; or
 (b) the start of the reporting period of the entity that follows the reporting period mentioned in paragraph (a) of this subsection.

Revocation on notice by reporting entity
 (3) If:
 (a) the Regulator has made a determination under subsection 10E(1) in respect of an entity; and
 (b) the determination has not been revoked;
the entity may, by written notice to the Regulator, inform the Regulator that the entity wishes to cease to be a subsidiary reporting entity.
 (4) A notice under subsection (3) must specify the time when the determination under subsection 10E(1) is to be revoked, which must be either:
 (a) the start of the reporting period of the entity in which the entity gives the notice to the Regulator; or
 (b) the start of the reporting period of the entity that follows the reporting period mentioned in paragraph (a) of this subsection.
 (5) If a subsidiary reporting entity gives the Regulator a notice under subsection (3), the determination mentioned in paragraph (3)(a) is taken to be revoked at the time specified in the notice for the purposes of paragraph (4)(a) or (b).

Division 4—Ceasing to be a reporting entity