Western Australian Current Acts Western Australian Current Acts (1) If —
(a)
after a probity approval notice is issued to a person; and
(b)
before the person becomes the holder of a relevant interest in more than 10%
of the voting shares of an approved company,
the Commission is not
satisfied the person is a suitable person to hold a relevant interest in more
than 10% of the voting shares of an approved company, the Commission may
cancel the probity approval notice.
(2) If the Commission
cancels a probity approval notice it must immediately serve the person with a
written notice of the cancellation.
(3) The cancellation
of a probity approval notice has effect when a notice is served under
subsection (2).
(4) If the Commission
cancels a probity approval notice it must promptly notify the approved company
of the fact.
[Section 15 inserted: No. 51 of 2003 s. 7.]