Document ID: chunk:federal_register_of_legislation:C2021A00019:clause:1_962u
Version: federal_register_of_legislation:C2021A00019
Segment Type: clause
Provision Reference: sch 1 cl 962U
Character Range: 15474–16421

962U  Variation or withdrawal of consent
 (1) If a person (the account holder) who holds an account gives consent to a fee recipient under section 962R or 962S for the purposes of this Subdivision, the account holder may:
 (a) withdraw the consent at any time, by notice in writing to the fee recipient; and
 (b) vary the consent at any time, by notice in writing to the fee recipient.
 (2) If the fee recipient receives a notice from the account holder under subsection (1), the fee recipient must within 10 business days of receipt:
 (a) give written confirmation to the account holder that the notice was received; and
 (b) if the fee recipient gave a copy of the account holder's consent to an account provider under paragraph 962S(3)(c)—give the account provider a copy of the notice.
 (3) A person contravenes this subsection if the person contravenes subsection (2).
Note: This subsection is a civil penalty provision (see section 1317E).