Section 823K — Corporations Act 2001: Matters relating to all Reserve Bank directions—variation or revocation

(1) The Reserve Bank: (a) may, by written notice given to a body corporate: (i) vary a direction given under this Subdivision to the body corporate if, at the time of variation, the Reserve Bank reasonably believes the variation is necessary or appropriate; or (ii) revoke such a direction if, at the time of revocation, the Reserve Bank reasonably believes the direction is no longer necessary or appropriate; and (b) for a direction given under subsection 823E(1)—must immediately do so if required under subsection 823E(6). (2) A direction given under this Subdivision has effect until the Reserve Bank revokes it under subsection (1).