136AEligibility for grant of licence

#### 136A Eligibility for grant of licence 136A Eligibility for grant of licence > > (1) The Minister must not grant a CMS licence to an applicant unless the Minister is satisfied that the applicant is a suitable person to be concerned in or associated with the management and operation of a CMS. > > > (2) Without limiting the matters that may be considered by the Minister in determining whether an applicant is a suitable person to be concerned in or associated with the management and operation of a CMS, the Minister is to consider whether— > > > > > (a) the applicant is of good repute, having regard to character, honesty and integrity, and > > > > > (b) the applicant has a sound and stable financial background, and > > > > > (c) in the case of an applicant who is not a natural person, the applicant has arranged a satisfactory ownership, trust or corporate structure, and > > > > > (d) the applicant has, or is able to obtain the services of persons who have, sufficient commercial and technical experience to manage and operate a CMS, and > > > > > (e) the applicant, or any close associate of the applicant, has any business association with a person, body or association that, in the opinion of the Minister, is not of good repute having regard to character, honesty and integrity or has undesirable or unsatisfactory financial sources, and > > > > > (f) each director, partner, executive officer, secretary or other executive officer associated or connected with the ownership, administration or management of the business of the applicant that is to be carried on under the authority of the CMS licence is a suitable person in his or her capacity as such. > > **ss 136A–136F:** Ins 2015 No 70, Sch 1 \[3\].