Document ID: chunk:federal_register_of_legislation:C2024C00648:section:18ng
Version: federal_register_of_legislation:C2024C00648
Segment Type: section
Provision Reference: s 18NG
Character Range: 225264–226606

18NG  Conditions may be imposed on servicing licences
 (1) The Secretary may impose conditions on a servicing licence.
 (2) A condition may be imposed at the time the servicing licence is granted or at a later time.
 (3) A condition may be amended or revoked at any time.
 (4) However, if a condition is to be imposed or amended after a servicing licence is granted, the Secretary must invite the servicing licensee to make written submissions in relation to the proposed condition or amendment before imposing the condition, or making the amendment.
 (5) The invitation must:
 (a) be in writing; and
 (b) state the period of not less than 14 days within which the submission must be made.
 (6) Without limiting the generality of subsection (1), a condition may restrict to a specified class or classes the measuring instruments that may be verified under the servicing licence.
 (7) The Secretary must notify the servicing licensee in writing of:
 (a) the terms of any condition imposed on the servicing licence; and
 (b) the terms of any condition of the servicing licence as amended; and
 (c) the revocation of any condition of the servicing licence.
 (8) The amendment or revocation of a condition of the servicing licence takes effect on the later of:
 (a) the day on which the notice is given; or
 (b) the day specified in the notice.