Designated Investment Funds Act, 1985
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Withdrawal of approval under section 5 . |
7.—(1) If having given an approval under section 5 of this Act information comes to the knowledge of the Minister which, had it been known to him at the time he was considering whether to give the approval, would have caused him to consider not giving the approval, then if, the period specified in the relevant notification under subsection (2) of this section having expired and having considered any representations or objections made under that subsection as regards the matter, the Minister considers that the approval should not have been given, he shall withdraw the approval. | |
(2) Where the Minister proposes to withdraw an approval under this section, he shall notify in writing the person to whom the approval was given of his intention and the reasons therefor and the notification shall state that within such period, beginning on the date of the notification, as is specified in the notification (being a period of not less than thirty days) representations and objections as regards the proposed withdrawal may be made to the Minister by or on behalf of such person (which representations and objections are hereby authorised to be made). |