16Fit and proper persons

16 Fit and proper persons

(1)  In determining whether a person is a fit and proper person under this Act, the Minister must take into account the following matters:

(a) the person’s conduct with regard to the scheme or a similar scheme established, or operating, in another jurisdiction;

(b) whether the person has been found guilty of one or more of the following offences, regardless of where the person was convicted:

(i) an indictable offence where the maximum penalty for the offence is a term of imprisonment of at least 3 months;

(ii) an offence of dishonesty or fraud;

(iii) an offence under this Act or an equivalent Act;

(c) such other prescribed matters.

(2)  If the Minister is determining whether a body corporate is a fit and proper person, the Minister is to –

(a) determine, under this section, whether each officer of the body corporate is a fit and proper person; and

(b) take into account each determination made in accordance with paragraph (a) when determining if the body corporate is a fit and proper person.

(3)  In addition to the matters to be taken into account under subsections (1) and (2) , the Minister may –

(a) take into account a matter not specified in those subsections, if the Minister considers the matter relevant to determining whether a person is a fit and proper person; and

(b) carry out such inquiries, consult such persons and take into account such matters as the Minister considers relevant to determining whether a person is a fit and proper person for the purposes of the scheme; and

(c) require a person to provide further information, or evidence, in support of the person’s appointment as a scheme participant.