(1) Where it appears to the Secretary that the Corporation is in default, and that the default is one which is capable of being remedied, the Secretary may serve on the Corporation a notice calling upon the Corporation-
(a) to remedy the default or to take measures or make arrangements to the satisfaction of the Secretary to ensure that the default is remedied; and
(b) to do so within the period specified in the notice, being a period that is reasonable in the circumstances, or within a further period as the Secretary may allow.
(2) Unless the circumstances require otherwise, the period specified in a notice served under subsection (1) shall be a period of 28 days or more.
(3) A default committed by reason of section 16(1)(c) shall not be regarded as one which is capable of being remedied for the purposes of subsection (1), and no notice shall be served under that subsection in respect of such a default. (Added 11 of 2007 s. 13)