Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Minister may, by notifiable instrument, revoke a declaration made under subsection 56AS(1) that an entity is a participating entity for a State or Territory.
(2) If a State or Territory requests in writing the Minister to revoke a declaration made under subsection 56AS(1) that an entity is a participating entity for the State or Territory, the Minister must, under subsection (1) of this section, revoke the declaration as soon as practicable.
(3) If the Minister revokes a declaration made under subsection 56AS(1) in relation to an entity, then, despite the revocation, subsection 56AR(2) continues to apply to the entity in relation to:
(a) any right, privilege, obligation or liability acquired, accrued or incurred before the revocation; and
(b) any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation or liability;
as if the declaration were still in force.