CORPORATIONS ACT 2001
Note: See section
REGISTERING AND DISCIPLINING PRACTITIONERS
Disciplinary and other action
ASIC may suspend or cancel registration
Application of this section
This section applies if ASIC decides under section
to suspend or cancel the registration of a person as a liquidator.
ASIC must give notice of decision
ASIC must, within 10 business days after making the decision, give the person a written notice setting out the decision, and the reasons for the decision.
When decision comes into effect
The decision comes into effect on the day after the notice is given to the person.
Failure to give notice does not affect validity of decision
A failure by ASIC to give the notice under subsection (2) within 10 business days does not affect the validity of the decision.