sec.81Chief executive must consider suitability of applicants and subagents

sec.81 Chief executive must consider suitability of applicants and subagents

The chief executive must, when deciding whether a person is a suitable person for registration as a subagent, consider all of the following things— the person’s character; whether the person held a licence or registration under a relevant Act that was suspended or cancelled under the relevant Act; whether an amount has been paid from the claim fund because the person did, or omitted to do, something that gave rise to the claim against the fund; whether the person has been disqualified under a relevant Act from being— the holder of a licence under the relevant Act; or the holder of registration under the relevant Act; or an executive officer of a corporation that holds a licence under the relevant Act; the person’s criminal history; if the person is an insolvent under administration— the circumstances giving rise to the person being an insolvent under administration; and whether the person took all reasonable steps to avoid the coming into existence of the circumstances that resulted in the person being an insolvent under administration; and whether the person is in a position to significantly influence the management of a field agent’s regulated business; whether the person has been convicted of an offence against a relevant Act or the Administration Act ; whether the person is capable of satisfactorily performing a regulated activity under the registration; whether the person’s name appears in the register of persons who have been disqualified from managing corporations under the Corporations Act ; See the Corporations Act , section 1274AA . another thing the chief executive may consider under this Act. If the chief executive decides a person is not a suitable person for registration as a subagent, the chief executive must give the person an information notice about the decision within 14 days after the decision is made. In this section— claim fund includes— the claim fund under PAMDA; and the auctioneers and agents fidelity guarantee fund continued in existence under the repealed Auctioneers and Agents Act 1971 . relevant Act means this Act, an Agents Act, PAMDA or a corresponding law. (sec.81-ssec.1) The chief executive must, when deciding whether a person is a suitable person for registration as a subagent, consider all of the following things— the person’s character; whether the person held a licence or registration under a relevant Act that was suspended or cancelled under the relevant Act; whether an amount has been paid from the claim fund because the person did, or omitted to do, something that gave rise to the claim against the fund; whether the person has been disqualified under a relevant Act from being— the holder of a licence under the relevant Act; or the holder of registration under the relevant Act; or an executive officer of a corporation that holds a licence under the relevant Act; the person’s criminal history; if the person is an insolvent under administration— the circumstances giving rise to the person being an insolvent under administration; and whether the person took all reasonable steps to avoid the coming into existence of the circumstances that resulted in the person being an insolvent under administration; and whether the person is in a position to significantly influence the management of a field agent’s regulated business; whether the person has been convicted of an offence against a relevant Act or the Administration Act ; whether the person is capable of satisfactorily performing a regulated activity under the registration; whether the person’s name appears in the register of persons who have been disqualified from managing corporations under the Corporations Act ; See the Corporations Act , section 1274AA . another thing the chief executive may consider under this Act. (sec.81-ssec.2) If the chief executive decides a person is not a suitable person for registration as a subagent, the chief executive must give the person an information notice about the decision within 14 days after the decision is made. (sec.81-ssec.3) In this section— claim fund includes— the claim fund under PAMDA; and the auctioneers and agents fidelity guarantee fund continued in existence under the repealed Auctioneers and Agents Act 1971 . relevant Act means this Act, an Agents Act, PAMDA or a corresponding law.