Document ID: chunk:federal_register_of_legislation:F2024C00941:reg:61
Version: federal_register_of_legislation:F2024C00941
Segment Type: reg
Provision Reference: reg 61
Character Range: 82961–83814

61  Secretary must notify proposed redirection
 (1) Before the Secretary redirects an incentive, the Secretary must give written notice of the proposed redirection to:
 (a) the original approved participant; and
 (b) the investor.
 (2) The notice must invite the original approved participant or investor, as the case requires, to make a written submission to the Secretary about the proposed redirection no later than 14 days after the day the Secretary gives the notice.
 (3) The notice may be given with a notice under subsection 32(8) (which deals with notice of transfer because of breach).
 (4) If the Secretary gives notice under subsection (1) of a proposed redirection, the Secretary must, after having decided whether or not to make the redirection, give to the original approved participant and the investor written notice of that decision.