Section 848B — Corporations Act 2001 (Cth)

(1) The Reserve Bank may, in writing, vary a determination made under subsection 848A(1) if paragraphs 848A(1)(a) and (b) would apply in relation to the direction as varied.

(2) The Reserve Bank may, in writing, revoke a determination made under subsection 848A(1).

(3) As soon as practicable after making the variation or revocation, the Reserve Bank must give the body corporate to which the determination relates a copy of the variation or revocation.

(4) As soon as practicable after the Reserve Bank gives the body corporate a copy of the variation or revocation under subsection (3), the body corporate must:

(a) if it is practical to do so—give a copy of the variation or revocation to each person to whom the body corporate gave:

(i) a copy of the determination under paragraph 848A(4)(b); or

(ii) a copy of an earlier variation of the determination (if any) under this paragraph; or

(iii) a copy of the determination as previously varied (if applicable) under paragraph (b) of this subsection; and

(b) in the case of a variation that results in additional information being specified in the determination:

(i) take reasonable steps to discover who is covered by paragraphs 848C(2)(a) and (b) in relation to the additional information (and is not covered by paragraph (a) of this subsection); and

(ii) if it is practicable to do so—give a copy of the determination, as varied, to each person who the body corporate believes to be so covered.

Note: Failure to comply with this subsection is an offence: see subsection 1311(1).

(5) A variation or revocation under this section is not a legislative instrument.

Related sections

• s 846B — Appropriation of Consolidated Revenue Fund
• s 847A — Reserve Bank may recognise crisis resolution of foreign operator of a clearing and settlement facility
• s 848A — Determinations that information is covered by secrecy provision
• s 848C — Prohibition on disclosing information covered by secrecy provision
• s 848D — Disclosure of publicly available information
• s 848E — Disclosure allowed by the Reserve Bank

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