698—Notice of amendment or cancellation
(1) The regulator must
give written notice of the amendment or cancellation of an exemption, within
14 days after making the decision to amend or cancel the exemption,
to—
(a) if a
person applied for the exemption—the applicant; or
(b) if
the regulator granted the exemption on its own initiative—each person
(other than persons to whom subregulation (2) applies) to whom the
exemption applies.
(2) If the exemption
affects a class of persons or is granted under regulation 689A(1), the
regulator must publish notice of the amendment or cancellation of the
exemption in the Gazette.
(3) The notice must
state the regulator's reasons for the amendment or cancellation.
(4) The amendment or
cancellation takes effect—
(a) on
the publication of the notice in the Gazette, or on a later date specified in
the notice; or
(b) if
the notice is not required to be published in the Gazette, on the giving of
the notice to the applicant under subregulation (1) or on a later date
specified in the notice.