11Simplified outline of this Part

11  Simplified outline of this Part

A person may apply to the Regulator to be registered for the purposes of this Act. The Regulator must not register the person unless the Regulator is satisfied that the person is a fit and proper person.

In determining whether a person is a fit and proper person, the Regulator may have regard to whether the person, or an associate of the person, has been convicted of certain offences, contravened certain laws, or is insolvent, among other matters.

Most activities under this Act can only be carried out by a registered person.

A person’s registration ceases to be in effect when the registration is cancelled or surrendered.

The Regulator may suspend or cancel a person’s registration on certain grounds, such as if the Regulator is not satisfied that the person is a fit and proper person.

There are civil penalties in relation to notifying the Regulator of certain matters about a registered person.