Document ID: chunk:federal_register_of_legislation:F2024C00913:reg:8:p26
Version: federal_register_of_legislation:F2024C00913
Segment Type: reg
Provision Reference: reg 8 (pt 26/105)
Character Range: 457969–460747

issuing body a written exemption from giving effect to its ASIC program in a particular case or respect.
 (9) Before granting or refusing an exemption under this regulation, the Secretary must consider:
 (a) the justification for the proposed exemption; and
 (b) the likely effect of the proposed exemption on each of the matters mentioned in subregulation 6.06(2); and
 (c) how long the proposed exemption will be for, if it is granted; and
 (d) anything else relevant that the Secretary knows about.
 (10) The Secretary may grant an exemption for a particular period and subject to a condition mentioned in the exemption.

6.09  Direction to vary ASIC program
 (1) If the Secretary is satisfied that an issuing body's ASIC program does not adequately address a matter mentioned in subregulation 6.06(2), the Secretary may direct the body, in writing, to vary the program.
 (2) However, the Secretary must not give a direction under subregulation (1) unless the Secretary is satisfied that the program, as varied, would adequately address the relevant matter mentioned in subregulation 6.06(2).
 (3) A direction must:
 (a) indicate the variation needed; and
 (b) state the time within which the issuing body must submit an appropriately varied program to the Secretary.
 (4) An issuing body must comply with such a direction.
Note: Regulation 6.19 provides for the revocation of the authorisation of a body that does not comply with a direction.

6.10  Variation of ASIC program by issuing body
 (1) An issuing body may:
 (a) review its ASIC program at any time; and
 (b) submit a written proposed variation of the program to the Secretary for approval.
 (2) If the Secretary needs more information to deal with an application, the Secretary may ask the applicant, in writing, to provide the information.
 (3) Before the end of 30 days after receiving the proposed variation (or, if the Secretary asks for more information under subregulation (2), before the end of 30 days after receiving the information), the Secretary must:
 (a) approve or refuse to approve the variation; and
 (b) notify the body in writing of the decision and, if the decision is a refusal, the reasons for the decision.
Note: See section 266 of the Administrative Review Tribunal Act 2024 for the requirements for the decision‑maker to notify persons whose interests are affected by the decision of the making of the decision and their right to have the decision reviewed.
 (4) If the Secretary has not approved, or refused to approve, the program within the period allowed by subregulation (3), the Secretary is taken to have refused to approve the program.
 (5) The Secretary must approve the variation if the program, as varied, will adequately address the matters mentioned in subregulation 6.06(2).