136Grounds for refusal of licence to individual

136 Grounds for refusal of licence to individual (1) An application for a licence made by an individual shall be refused if it appears to the Director: (a) that the applicant has not attained the age of 18 years; or (b) that the applicant is disqualified from holding a licence; or (c) that the applicant is taking the benefit of a law for the relief of bankrupt or insolvent debtors, or is a person whose remuneration is for the time being assigned for the benefit of creditors; or (d) that the applicant does not have, or is not likely to continue to have, sufficient material and financial resources to carry on business as a dealer, having regard to the scope of the business operations which the applicant proposes to engage in as such and the liabilities which the applicant may incur in connection therewith; or (e) that the applicant is not likely to carry on business as a dealer honestly and fairly; or (f) that the applicant is in any other way not a fit and proper person to hold a licence; or (g) that any person with whom, if the licence is granted, the applicant intends to carry on business as a dealer in partnership is a person in respect of whom the Director would be required to refuse an application for the licence if that person were the applicant. (2) The Director must also refuse an individual's application for a licence if the applicant fails to comply with a requirement of the Director under section 133. Consumer Affairs and Fair Trading Act 1990 58 (3) Without affecting the generality of subsection (1)(f), the Director may, in determining whether or not an applicant is a fit and proper person to hold a licence, have regard (if such be the case) to the fact that the applicant, or a person who is associated with the applicant within the meaning of the Corporations Act 2001: (a) has, during the period of 10 years immediately preceding the making of the application, been found guilty of, or served any part of a term of imprisonment for, an offence (wherever committed) involving fraud, dishonesty or physical violence; or (b) was, at the time the application was made, bound in relation to such an offence by a recognisance; or (c) was, at the time the application was made, the subject of a charge in relation to such an offence; or (d) has at any time been found guilty of an offence against this Act, the regulations, or any other enactment administered by the Minister. (4) An applicant who proposes to carry on the business of a dealer in partnership with another person or other persons shall not be refused a licence on the grounds specified in subsection (1)(d) if the Director is satisfied that the applicant and the other person or persons together have, and are likely to continue to have, sufficient material and financial resources to carry on the business. (5) Regulations may prescribe criteria to be taken into account by the Director in assessing the adequacy of an applicant's material and financial resources for the purposes of subsection (1)(d) or (as mentioned in subsection (4)) the adequacy for those purposes of the material and financial resources of the applicant and another person or other persons.