Document ID: chunk:federal_register_of_legislation:C2025C00189:section:151bg
Version: federal_register_of_legislation:C2025C00189
Segment Type: section
Provision Reference: s 151BG
Character Range: 1762390–1763722

151BG  Revocation of exemption order
 (1) If:
 (a) an exemption order is in force in relation to a person; and
 (b) the Commission is satisfied that:
 (i) the order was made on the basis of information that was false or misleading in a material particular; or
 (ii) a condition to which the order is subject has been contravened; or
 (iii) there has been a material change of circumstances since the order was made;
the Commission may revoke the order.
 (2) The Commission must not revoke an exemption order unless the Commission has first:
 (a) published a draft notice of revocation and invited people to make submissions to the Commission on the draft notice; and
 (b) considered any submissions that were received within the time limit specified by the Commission when it published the draft notice.
 (3) The Commission may make a further exemption order under section 151BA in substitution for the revoked order.
 (4) If the Commission revokes an exemption order relating to a person, the Commission must give the person a written notice stating that the order has been revoked and setting out the reasons for the revocation.
 (5) A revocation of an exemption order takes effect:
 (a) at the time when notice of the revocation is given; or
 (b) if a later time is specified in the notice of the revocation—at that later time.