sec.199Changes in circumstances of applicants for and holders of licences

### sec.199 Changes in circumstances of applicants for and holders of licences If a person applies for a licence under this part and, before the application is granted or refused, a change happens in any information contained in, or accompanying, the application or in a notice given under this subsection, the applicant must, within 7 days of the change, give the commissioner written notice of the change. Maximum penalty—100 penalty units. If, after the grant of a licence under this part, an event mentioned in subsection (3) happens, the holder of the licence must, within 7 days of the happening of the event, give the commissioner written notice of the event. Maximum penalty—100 penalty units. The events required to be notified by the holder of the licence are— the holder of the licence changes name or address; or the holder of the licence— is convicted of an offence against this Act; or if the holder is an individual—fails to discharge the holder’s financial commitments, becomes bankrupt or compounds with creditors or otherwise takes advantage of the laws about bankruptcy; or if the holder is a body corporate—is affected by control action under the Corporations Act ; or is convicted of an indictable offence punishable by imprisonment for at least 1 year (irrespective of whether the offence is also punishable by a fine in addition, or as an alternative, to imprisonment). s 199 amd 1992 No. 35 sch sub 1993 No. 63 s 10 amd 1997 No. 24 s 61 sch ; 1999 No. 8 s 60 ; 1999 No. 77 s 156 ; 2001 No. 45 s 29 sch 3 ; 2004 No. 21 s 123 sch ; 2012 No. 25 s 109 (1) (sec.199-ssec.1) If a person applies for a licence under this part and, before the application is granted or refused, a change happens in any information contained in, or accompanying, the application or in a notice given under this subsection, the applicant must, within 7 days of the change, give the commissioner written notice of the change. Maximum penalty—100 penalty units. (sec.199-ssec.2) If, after the grant of a licence under this part, an event mentioned in subsection (3) happens, the holder of the licence must, within 7 days of the happening of the event, give the commissioner written notice of the event. Maximum penalty—100 penalty units. (sec.199-ssec.3) The events required to be notified by the holder of the licence are— the holder of the licence changes name or address; or the holder of the licence— is convicted of an offence against this Act; or if the holder is an individual—fails to discharge the holder’s financial commitments, becomes bankrupt or compounds with creditors or otherwise takes advantage of the laws about bankruptcy; or if the holder is a body corporate—is affected by control action under the Corporations Act ; or is convicted of an indictable offence punishable by imprisonment for at least 1 year (irrespective of whether the offence is also punishable by a fine in addition, or as an alternative, to imprisonment). - (a) the holder of the licence changes name or address; or - (b) the holder of the licence— (i) is convicted of an offence against this Act; or (ii) if the holder is an individual—fails to discharge the holder’s financial commitments, becomes bankrupt or compounds with creditors or otherwise takes advantage of the laws about bankruptcy; or (iii) if the holder is a body corporate—is affected by control action under the Corporations Act ; or (iv) is convicted of an indictable offence punishable by imprisonment for at least 1 year (irrespective of whether the offence is also punishable by a fine in addition, or as an alternative, to imprisonment). - (i) is convicted of an offence against this Act; or - (ii) if the holder is an individual—fails to discharge the holder’s financial commitments, becomes bankrupt or compounds with creditors or otherwise takes advantage of the laws about bankruptcy; or - (iii) if the holder is a body corporate—is affected by control action under the Corporations Act ; or - (iv) is convicted of an indictable offence punishable by imprisonment for at least 1 year (irrespective of whether the offence is also punishable by a fine in addition, or as an alternative, to imprisonment). - (i) is convicted of an offence against this Act; or - (ii) if the holder is an individual—fails to discharge the holder’s financial commitments, becomes bankrupt or compounds with creditors or otherwise takes advantage of the laws about bankruptcy; or - (iii) if the holder is a body corporate—is affected by control action under the Corporations Act ; or - (iv) is convicted of an indictable offence punishable by imprisonment for at least 1 year (irrespective of whether the offence is also punishable by a fine in addition, or as an alternative, to imprisonment).