147Changes in management of body corporate

147 Changes in management of body corporate (1) If a body corporate is a licensed dealer, and a person becomes a director of the body corporate or otherwise concerned in its management in addition to or in the place of an existing director or person so concerned, the body corporate must, not later than 28 days after the date on which the event occurs, give to the Director a notice complying with subsection (2). (2) A notice under subsection (1) must: (a) state the full name, date of birth and present residential address of the person who has become a director of the body corporate or otherwise concerned in its management; and (b) give the date on which the event in question occurred; and (c) state any other addresses at which the person has resided during the period of 3 years immediately preceding the date of the notice; and (d) where the person has (whether in the Territory or elsewhere) previously carried on business as a dealer or been employed by a dealer, give particulars of that business or employment; and (e) be accompanied by a certificate signed by 2 others to the effect that the person would be a fit and proper person to hold a licence. (3) If a body corporate gives to the Director a notice under subsection (1), the Director must send a copy of the notice to the Commissioner of Police, who must, within 14 days of receiving it, lodge with the Director a notice in writing which either: (a) objects to the continuation in force of the licence held by the body corporate on the grounds that the person who has become a director, or otherwise concerned in its management, would not be a fit and proper person to hold a licence; or Consumer Affairs and Fair Trading Act 1990 65 (b) states that nothing is known about that person which warrants such an objection.