(a)
(1) The Director of the Division of Workforce Services may revoke approval of a plan for good cause.
(2) The revocation order shall be in writing and shall specify the date the revocation is effective and the reasons therefor.
(3) Good cause shall include, but not be limited to, failure to comply with the assurances given in the plan, unreasonable revision of productivity standards for the affected group, conduct or occurrences tending to defeat the intent and effective operation of the plan, and violation of any criteria on which approval of the plan was based.
(b) The action may be taken at any time by the director on his or her own motion, on the motion of any of the affected group's employees, or on the motion of the appropriate collective bargaining agent.
(c) However, the director shall review the operation of each qualified employer plan at least once during the twelve-month period that the plan is in effect to assure its compliance with the requirements of these provisions.
(d) Revocation of a plan for good cause by the director shall preclude approval of any subsequent plan submitted by the revoked plan employer during the twelve-month period beginning on the date of the revocation order.