Common use of Contravention of the Act Clause in Contracts

Contravention of the Act. The Operator must give written notice to the Principal, together with relevant particulars, promptly (and, in any event, no later than 5 Business Days) after becoming aware of any contravention of the Act or the Regulation by a Scheme Participant or any other person.

Contravention of the Act. The Operator must give written notice to the Principal, together with relevant particulars, promptly (and, in any event, no later than 5 Business Days) within 24 hours after becoming aware of any contravention of the Act or the Regulation Regulations by a Scheme Participant or any other person.