Commonwealth Consolidated Acts Commonwealth Consolidated ActsRemoval
(1) The Commissioner may remove any of the responsible entities of the registered entity if the Commissioner considers that doing so is necessary to address the contravention or non - compliance mentioned in subsection 100 - 5 (1) (or prevent the likely contravention or non - compliance mentioned in that sub section).
(2) If the Commissioner decides to remove a responsible entity under this section, the Commissioner must give to the responsible entity a written notice:
(a) setting out the decision; and
(b) giving the reasons for the decision ; and
(c) setting out the effect of section 100 - 25 (prohibition on removed responsible entity managing the registered entity); and
(d) if the registered entity is a trust--setting out the effects of subsections 100 - 70(1) and (5) (former trustees' obligations relating to books, identification of property and transfer of property).
Removal--show cause notice
(3) Before removing a responsible entity, the Commissioner must give a written notice (a show cause notice ) to the registered entity.
(4) The show cause notice must:
(a) state the grounds on which the Commissioner proposes to remove the responsible entity; and
(b) invite the registered entity to give the Commissioner, within 28 days after the day the notice is given, a written statement showing cause why the Commissioner should not remove the responsible entity.
(5) Subsections ( 3) and (4) do not apply if the Commissioner believes, on reasonable grounds and taking into account the matters mentioned in subsection 35 - 10(2), that it would be appropriate for the Commissioner to remove the responsible entity without giving a show cause notice to the registered entity.
Matters Commissioner must take into account
( 6 ) In deciding whether to remove any of the responsible entities, the Commissioner must take account of the matters me ntioned in subsection 35 - 10 (2).
Review of decisions under this section
(7 ) A responsible entity that is dissatisfied with a decision to remove the responsible entity under this section may object against the decision in the manner set out in Part 7 - 2 .