25Person must be approved to carry on regulated business

25 Person must be approved to carry on regulated business

A person must not carry on a regulated business unless the person –

(a) has been approved in accordance with this Act to carry on that regulated business; and

(b) is carrying on the regulated business in accordance with the approval; and

(c) has not been prohibited under section 93 from carrying on a regulated business.

Penalty:  Fine not exeeding 50 penalty units and a further fine not exceeding 5 penalty units in respect of each day during which the offence continues.