Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A listing under section 15 ceases to have effect on:
(a) if no declaration under subsection ( 2) has been made in relation to the listing--the third anniversary of the day on which the listing took effect; or
(b) otherwise--the third anniversary of the making of the most recent declaration under subsection ( 2) in relation to the listing.
(2) The Minister may declare, in writing, that a specified listing under section 15 continues to have effect.
(3) The Minister must not:
(a) make a declaration under subsection ( 2) specifying the listing of a person or entity unless the Minister is satisfied on reasonable grounds of the matters prescribed for the purposes of subsection 15(2); or
(b) make a declaration under subsection ( 2) specifying the listing of an asset, or class of asset, unless the Minister is satisfied on reasonable grounds of the matters prescribed for the purposes of subsection 15(4).
(4) The regulations may prescribe a form for a declaration under subsection ( 2).
(5) A declaration made under subsection ( 2) is not a legislative instrument.
(6) To avoid doubt, subsection ( 1) does not prevent:
(a) the revocation, under section 16, of a listing; or
(b) the revocation of a listing by operation of section 19; or
(c) the making of a new listing that is the same in substance as another listing (whether the new listing is made or takes effect before or after the other listing ceases to have effect because of subsection ( 1)).