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Financial Service Providers (Registration and Dispute Resolution) Act 2008

Dispute resolution - Approval of dispute resolution schemes - Withdrawal of approval

60: Notification and publication of withdrawal of approval

You could also call this:

“Minister must tell everyone when a dispute resolution scheme is no longer approved”

When the Minister decides to withdraw approval from a dispute resolution scheme, they need to take several actions quickly. First, they must tell the person in charge of the scheme about the withdrawal. They also need to inform the Registrar. The Minister must make sure the withdrawal is announced in the Gazette, which is an official government publication. Lastly, they need to make sure the chief executive updates some important details about the scheme. These details are described in section 78(2) of the law.

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Topics:
Government and voting > Government departments
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59: Approval is withdrawn from date person responsible for scheme is notified, or

"Scheme's approval ends when the person in charge is told about it"

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61: Effect of withdrawal of approval on members of dispute resolution scheme, or

"What happens to members when a dispute resolution scheme loses approval"

Part 3 Dispute resolution
Approval of dispute resolution schemes: Withdrawal of approval

60Notification and publication of withdrawal of approval

  1. The Minister must, as soon as practicable after withdrawing the approval of a dispute resolution scheme,—

  2. notify the person responsible for the scheme; and
    1. notify the Registrar; and
      1. ensure the withdrawal is published in the Gazette; and
        1. ensure the chief executive updates the details described in section 78(2).