sec.55Chief executive may renew or refuse to renew licence

sec.55 Chief executive may renew or refuse to renew licence

The chief executive must consider the application for renewal and may renew or refuse to renew the licence. The chief executive may renew the licence only if the chief executive is satisfied— the field agent is a suitable person to hold a licence and, if the agent carries on a regulated business with others, each person with whom the agent carries on the business is a suitable person to hold a licence; and the field agent is eligible to hold the licence; and the application complies with section 54 . If the chief executive decides to refuse the application, the chief executive must give the field agent an information notice about the decision within 14 days after the decision is made. (sec.55-ssec.1) The chief executive must consider the application for renewal and may renew or refuse to renew the licence. (sec.55-ssec.2) The chief executive may renew the licence only if the chief executive is satisfied— the field agent is a suitable person to hold a licence and, if the agent carries on a regulated business with others, each person with whom the agent carries on the business is a suitable person to hold a licence; and the field agent is eligible to hold the licence; and the application complies with section 54 . (sec.55-ssec.3) If the chief executive decides to refuse the application, the chief executive must give the field agent an information notice about the decision within 14 days after the decision is made.

• (a) the field agent is a suitable person to hold a licence and, if the agent carries on a regulated business with others, each person with whom the agent carries on the business is a suitable person to hold a licence; and
• (b) the field agent is eligible to hold the licence; and
• (c) the application complies with section 54 .