31Issue of licences

31 Issue of licences (1) If the Board grants an application for a licence (including a provisional licence or restricted licence), the Registrar must issue the licence to the applicant. (2) A licence issued under subsection (1) must: (a) be in the approved form; and (b) specify the place or places at which its holder is licensed to carry on business; and (c) in the case of a restricted licence – set out the functions of an agent which its holder is entitled to perform and any conditions specified by the Board under section 25A(2); and (d) if the holder of the licence is a company or firm – specify the name of each business manager of the company or firm. (3) A company or firm that holds a licence may apply to the Board for approval to: (a) substitute a business manager specified in the licence with a different business manager; or (b) add a new business manager to the licence. (4) On an application under subsection (3), the Board may approve, or refuse to approve, the substitution or addition of a business manager for the company or firm. (6) If the Board gives approval under subsection (4), the Registrar must, on the surrender to the Registrar of the licence previously

Agents Licensing Act 1979 22 issued to the company or firm, issue a new licence to the company or firm specifying the name of the business manager or business managers, for the time being, of the company or firm. (7) A licence issued under subsection (6) takes effect from the date on which it is issued and continues in force for the period that the licence would have continued in force but for the substitution or addition effected under subsection (4). 31AA Notification of change of circumstance (1) A person who holds a licence must, within 14 days after a change in a circumstance relevant to the person's licensing, notify the Board of the change. (2) For subsection (1), a circumstance is relevant to the person's licensing if: (a) it is a circumstance mentioned in section 20(2) or (4) that, if it had occurred before the application for the licence had been made, would have resulted in the person being a disqualified person under section 20; or (b) in relation to a licence mentioned in section 22(1)(d) – the person is no longer insured or exempt as described in that provision. Note for section 31AA Regulation 22 of the Agents Licensing Regulations 1979 provides for other matters to be notified.