sec.50Chief executive may issue or refuse to issue licence

sec.50 Chief executive may issue or refuse to issue licence

The chief executive may decide to issue or refuse to issue a licence to an applicant. The chief executive may decide to issue a licence to an applicant only if the chief executive is satisfied— the applicant is a suitable person to hold a licence and, if the applicant intends carrying on a regulated business with others, each person with whom the applicant intends carrying on the business is a suitable person to hold a licence; and the applicant is eligible to hold a licence; and the application complies with section 41 . If the chief executive decides to refuse to issue the licence, the chief executive must give the applicant an information notice about the decision within 14 days after the decision is made. (sec.50-ssec.1) The chief executive may decide to issue or refuse to issue a licence to an applicant. (sec.50-ssec.2) The chief executive may decide to issue a licence to an applicant only if the chief executive is satisfied— the applicant is a suitable person to hold a licence and, if the applicant intends carrying on a regulated business with others, each person with whom the applicant intends carrying on the business is a suitable person to hold a licence; and the applicant is eligible to hold a licence; and the application complies with section 41 . (sec.50-ssec.3) If the chief executive decides to refuse to issue the licence, the chief executive must give the applicant an information notice about the decision within 14 days after the decision is made.

• (a) the applicant is a suitable person to hold a licence and, if the applicant intends carrying on a regulated business with others, each person with whom the applicant intends carrying on the business is a suitable person to hold a licence; and
• (b) the applicant is eligible to hold a licence; and
• (c) the application complies with section 41 .