Document ID: chunk:federal_register_of_legislation:F2020N00007:reg:8
Version: federal_register_of_legislation:F2020N00007
Segment Type: reg
Provision Reference: reg 8
Character Range: 7318–7944

8  Direction about exercise of some powers
 (1) Before exercising a power under section 12, 25 or 32 of the Financial Sector (Shareholdings) Act 1998, a delegate must inform the Minister of the proposed exercise of the power. However, if circumstances of urgency require that the power be exercised immediately, the delegate must inform the Minister of the exercise of the power at the earliest opportunity.
 (2) The validity of an exercise of a delegated power is not affected by failure to comply with the direction in subsection (1).

Part 4— Determination under the Financial Sector (Transfer and Restructure) Act 1999