Document ID: chunk:federal_register_of_legislation:C2024C00572:section:11c:p2
Version: federal_register_of_legislation:C2024C00572
Segment Type: section
Provision Reference: s 11C (pt 2/3)
Character Range: 48219–50924

has become a Chapter 5 body corporate; or
 (d) the nominated trustee has become an insolvent under administration; or
 (e) the nominated trustee has an unsatisfactory compliance record.
Note: For unsatisfactory compliance record, see section 11D.
 (10) A cancellation of a nomination takes effect on the day specified in the notice of cancellation as the day on which the cancellation is to take effect.
 (11) If the Regulator cancels a nomination, the Regulator must give written notice of the cancellation to each nominator.

Replacement nomination
 (12) If:
 (a) a nomination (the original nomination) is in force in relation to a facility; and
 (b) another nomination is made in relation to the facility;
the other nomination has no effect unless it is expressed to replace the original nomination.

Revocation of nomination
 (13) If:
 (a) a nomination (the original nomination) is in force in relation to a facility; and
 (b) another nomination is made in relation to the facility; and
 (c) the other nomination is expressed to replace the original nomination;
the original nomination is taken to have been revoked at the beginning of the start day for the other nomination.

Operational control—nomination made
 (14) If:
 (a) a nomination is in force in relation to a facility throughout a particular period; and
 (b) the facility passes the eligible nomination test at all times during the period;
the nominated trustee is taken, for the purposes of this Act, to have operational control of the facility throughout the period.

Operational control—nomination not made
 (15) If:
 (a) no nomination is in force in relation to a facility at any time during a particular period; and
 (b) the facility passes the eligible nomination test at all times during the period;
each relevant trustee is taken, for the purposes of this Act, to have operational control of the facility throughout the period.

Notification
 (16) If:
 (a) a nomination is in force in relation to a facility; and
 (b) the facility ceases to pass the eligible nomination test;
each nominator must, within 30 days after the cessation, notify the cessation to the Regulator unless the cessation has previously been notified to the Regulator.

Exceptions
 (17) A trustee is not required to comply with subsection (16) if the question of who has operational control of the facility is not relevant (whether directly or indirectly) to a requirement under this Act.
 (18) A trustee is not required to comply with subsection (16) if the facility ceases to pass the eligible nomination test because of the making of a declaration under section 55 or 55A.

Definition
 (19) In this section:
nomination means a nomination under subsection (2).