Document ID: chunk:federal_register_of_legislation:F2024C01022:reg:127
Version: federal_register_of_legislation:F2024C01022
Segment Type: reg
Provision Reference: reg 127
Character Range: 208236–210038

127  Modification, suspension or revocation relating to change in beneficial ownership
 (1) If the Authority receives a notice under section 125 in relation to a changed company, it may modify the conditions of, or suspend or revoke, the permission held by the changed company on the ground that the changed company is not a suitable person to hold the permission (subject to the conditions to which it was subject before the change in beneficial ownership of the company), having regard to:
 (a) the changed company's capacity to engage in and manage, to the Authority's satisfaction, the conduct permitted by the permission; and
 (b) the changed company's history in relation to environmental matters (including that history before the company changed); and
 (c) the history of the changed company's executive officers in relation to environmental matters (including that history before the company changed); and
 (d) if the changed company is a subsidiary of a holding company—the history of the holding company and its executive officers in relation to environmental matters; and
 (e) whether the changed company, or an executive officer of the changed company, owes any fee or other amount payable under the Act, this instrument or any other instrument made for the purposes of the Act; and
 (f) any other relevant matter.
 (2) The Authority must notify the changed company whether or not it intends to suspend or revoke, or modify the conditions of, the permission held by the changed company within 20 business days after receiving:
 (a) if the Authority has not requested further information under section 126—a notice under section 125; or
 (b) if the Authority has requested further information under section 126—that further information.

Division 8—Modification, suspension and revocation