15Registration

15  Registration

 (1) If a person applies to the Regulator under section 12, the Regulator must decide to:

 (a) register the person; or

 (b) refuse to register the person.

 (2) The Regulator must not register the person unless the Regulator is satisfied that the person is a fit and proper person.

Note: See section 24 for how the Regulator determines whether the Regulator is satisfied that a person is a fit and proper person.

 (3) In deciding whether to register the person, the Regulator:

 (4) If the Regulator does not make a decision under subsection (1) in relation to an application within the period prescribed by the rules, the Regulator is taken to have refused the application.