Part ICompetition
Chapter IAgreements
Exemptions
5Cancellation etc. of individual exemptions
1
If the Director has reasonable grounds for believing that there has been a material change of circumstance since he granted an individual exemption, he may by notice in writing—
a
cancel the exemption;
b
vary or remove any condition or obligation; or
c
impose one or more additional conditions or obligations.
2
If the Director has a reasonable suspicion that the information on which he based his decision to grant an individual exemption was incomplete, false or misleading in a material particular, he may by notice in writing take any of the steps mentioned in subsection (1).
3
Breach of a condition has the effect of cancelling the exemption.
4
Failure to comply with an obligation allows the Director, by notice in writing, to take any of the steps mentioned in subsection (1).
5
Any step taken by the Director under subsection (1), (2) or (4) has effect from such time as may be specified in the notice.
6
If an exemption is cancelled under subsection (2) or (4), the date specified in the notice cancelling it may be earlier than the date on which the notice is given.
7
The Director may act under subsection (1), (2) or (4) on his own initiative or on a complaint made by any person.