Victorian Current Acts Victorian Current Acts(1) This section applies if the Commission has received a notice under section 3.4A.11N or 3.4A.17AA concerning the variation of a registered assignment agreement (including by the substitution of parties).
(2) The Commission may serve notice under subsection (3) on the assignor and the assignee if the Commission considers that the agreement as varied does not comply with the requirements for registration set out in section 3.4A.11H(2).
(3) A notice under this subsection must give the assignor and the assignee an opportunity to show cause within 28 days why the agreement should not be deregistered.
(4) Each of the assignor and the assignee, within the period allowed by the notice, may arrange with the Commission for the making of submissions to the Commission as to why the agreement should not be deregistered.
(5) The Commission must consider the submissions made in accordance with an arrangement referred to in subsection (4).
(6) If the Commission then considers that the agreement as varied does not comply with the requirements for registration set out in section 3.4A.11H(2), the Commission may give the assignor and the assignee a notice in writing specifying the day on which the agreement is to be deregistered.
(7) On the day specified in the notice under subsection (6), the agreement is deregistered and terminated.
S. 3.4A.11P inserted by No. 62/2017 s. 36.