Corporations Act 2001
An approval under section 851B is subject to such conditions (if any) as are specified in the notice of approval.851D(2) [ Ministerial power to impose conditions]
The Minister may, by written notice given to a person who holds an approval under section 851B :
(a) impose one or more conditions or further conditions to which the approval is subject; or
(b) revoke or vary any condition:
(i) imposed under paragraph (a); or
851D(3) [ Prerequisites to exercise of power]
(ii) specified in the notice of approval.
(a) on the Minister's own initiative; or
(b) on application by the person who holds the approval. 851D(4) [ Application]
An application made by a person under paragraph (3)(b) must be lodged with ASIC and must set out the person's reasons for making the application.
Note: For fees in respect of lodging applications, see Part 9.10 .851D(5) [ Application given to Minister]
ASIC must give the application to the Minister as soon as possible.851D(6) [ Notice of refusal]
If the Minister refuses an application under paragraph (3)(b), the Minister must give written notice of the refusal to the applicant.851D(7) [ Publication]
(a) published in the Gazette ; and
(b) given to the widely held market body concerned. 851D(8) [ Notice of breach of condition]
A person who holds an approval under section 851B must give written notice to ASIC if they become aware that they have breached a condition to which the approval is subject.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).