Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Where the Secretary is satisfied that an approval was granted to a person as a result of a false or misleading statement made by the person, the Secretary may, by written notice given to the person, revoke the approval.
(2) The Secretary must cause a copy of a revocation to be given to the Bank.
(3) Where an approval is revoked under this section it is taken never to have been granted.