Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) A known consignor's approval as a known consignor commences on the day specified in the notice under subregulation 4.41N(3).
(2) The day specified in the notice must not be earlier than:
(a) the day the notice is given; or
(b) if the applicant is not already carrying on a business that engages in originating cargo--the day on which the applicant commences carrying on such a business.
(3) The approval continues in force until the earlier of:
(a) the end of the period specified in the notice; and
(b) if the approval is revoked under regulation 4.41V, 4.41W or 4.41X--the day the approval is revoked.
Note: If a known consignor applies for the known consignor's approval to be renewed before the end of the period mentioned in paragraph (a), the approval continues in force until a decision is made on the renewal application--see regulation 4.41T.
(4) The period specified in the notice must be at least 12 months, but not more than 5 years, after the day on which the approval commences.