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TRADEX SCHEME ACT 1999 - SECT 17
Suspension of tradex order
- (1)
- If the Secretary:
- (a)
- decides to give a notice under section 16 to the holder of a tradex order;
and
- (b)
- believes on reasonable grounds that any disqualifying circumstances exist
in relation to the holder; and
- (c)
- considers that it is appropriate to take action under this section;
the Secretary may suspend the order.
- Note: For the right to have a decision suspending a tradex order reconsidered,
see section 39.
- (2)
- The Secretary must cause a written notice of:
- (a)
- his or her decision to suspend the tradex order, and the reasons for the
decision; and
- (b)
- the date on which the suspension comes into force;
to be given to the holder of the order. The notice may be included in the
notice given under section 16.
- (3)
- A tradex order that has been suspended is taken not to be in force during
the period of the suspension.
- (4)
- If the Secretary believes that it is appropriate to do so, the Secretary
may remove the suspension of a tradex order.
- (5)
- The Secretary must cause a written notice of:
- (a)
- his or her decision to remove the suspension of a tradex order; and
- (b)
- the date on which the removal of the suspension comes into force;
to be given to the holder of the order.
- (6)
- The suspension, or the removal of the suspension, of a tradex order must
be in writing signed by the Secretary and comes into force on a date stated in
the instrument of suspension or removal.
- (7)
- The Secretary must cause particulars of the suspension, or of the removal
of the suspension, and the date on which the suspension or removal comes into
force, to be entered in the Register.
- (8)
- The suspension of a tradex order, if not sooner removed, ceases to be in
force if the order is revoked.
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