(1) CASA may give the holder of an instrument a show cause notice if there are reasonable grounds for believing that there are facts or circumstances that would justify the suspension or cancellation of the instrument under regulation 21.002C.
(2) A show cause notice must be in writing and must:
(a) inform the holder of the facts or circumstances that, in CASA's opinion, would justify the suspension or cancellation of the instrument; and
(b) invite the holder to show cause, within the period stated in the notice, why the instrument should not be suspended or cancelled.
(3) The period stated in the notice must be reasonable, having regard to all the circumstances of the case.