8Eligibility for licence

8 Eligibility for licence

8 Eligibility for licence

(1) A natural person is eligible to hold a licence only if the Secretary is satisfied that the person—

(a) is at least 18 years of age, and

(b) is a fit and proper person to hold a licence, and

(c) each person with whom the person is in partnership in connection with the business concerned is a fit and proper person to hold a licence, and

(d) has the qualifications required for the issue of the licence, and

(e) is not a disqualified person, and

(f) has paid the application fee required by section 12.

(2) A corporation is eligible to hold a corporation licence only if the Secretary is satisfied that—

(a) the corporation is a fit and proper person to hold a licence, and

(b) each director of the corporation is a fit and proper person to hold a licence, and

(c) no director or executive officer (within the meaning of the Corporations Act) of the corporation is a disqualified person, and

(c1) the corporation is not a disqualified person, and

(d) at least one of the directors of the corporation holds a licence that a natural person is required to hold to carry on the business that the corporation carries on or proposes to carry on, and

(e) the corporation has paid the application fee required by section 12.

s 8: Am 2006 No 33, Sch 1 [2]; 2025 No 17, Sch 1[2] [3].