Document ID: chunk:federal_register_of_legislation:C2020A00047:clause:2_151z
Version: federal_register_of_legislation:C2020A00047
Segment Type: clause
Provision Reference: sch 2 cl 151Z
Character Range: 101102–102494

151Z  Variation of functional separation undertaking following giving of revocation notice

Standard functional separation undertaking
 (1) If:
 (a) the ACCC has given a notice under section 151W revoking a standard functional separation undertaking; and
 (b) the revocation has not taken effect;
the ACCC may, by written notice given to the person who gave the undertaking, vary the undertaking.
 (2) The ACCC must not vary a standard functional separation undertaking under subsection (1) unless the variation:
 (a) addresses the matter or matters that constituted the grounds for the revocation of the undertaking under section 151W; and
 (b) does not address any other matter.

Joint functional separation undertaking
 (3) If:
 (a) the ACCC has given a notice under section 151W revoking a joint functional separation undertaking; and
 (b) the revocation has not taken effect;
the ACCC may, by written notice given to each of the persons who gave the undertaking, vary the undertaking.
 (4) The ACCC must not vary a joint functional separation undertaking under subsection (3) unless the variation:
 (a) addresses the matter or matters that constituted the grounds for the revocation of the undertaking under section 151W; and
 (b) does not address any other matter.

When variation takes effect
 (5) A variation under subsection (1) or (3) takes effect at the time the notice is given.