40Conditions of licences

#### 40 Conditions of licences 40 Conditions of licences > > (1) A licence is subject to the following conditions— > > > > > (a) the conditions imposed by this Act and the regulations, > > > > > (b) such other conditions (not inconsistent with those imposed by this Act and the regulations) as the Minister may from time to time impose in relation to the licence. > > > (2) Without limitation, the Minister may impose the following kinds of conditions on a licence— > > > > > (a) a condition specifying the period for which the licence is to remain in force, > > > > > (b) a condition requiring the holder of the licence to exercise its functions under this Act in accordance with specified guidelines or subject to specified restrictions, including conditions as to— > > > > > > > (i) the district within which those functions may be exercised, and > > > > > > > (ii) the implementation of Government policy on community service obligations to small retail customers, > > > > > (c) a condition requiring the holder of the licence to continue to satisfy such technical or prudential criteria as have been adopted by the Minister to determine whether a person is able to operate a viable business as a licensed distributor, > > > > > (d) a condition requiring the holder of the licence to maintain specified insurance cover in respect of specified risks, > > > > > (e) a condition requiring the holder of the licence— > > > > > > > (i) to prepare, and submit to the Minister for approval, a plan setting out (in accordance with guidelines established by the Minister) the holder’s policies, practices and procedures with respect to the conduct of its affairs under the licence, and > > > > > > > (ii) to conduct its affairs under the licence in accordance with the plan as so approved, > > > > > (f) a condition requiring the holder of the licence to furnish to the Minister (at such times and in respect of such periods as the Minister may determine) such information as the Minister may determine to enable the Minister to ascertain whether or not the holder is complying with the conditions imposed on the licence by this Act or the regulations or by the Minister. > > > (3) The Minister may not impose a condition on a licence of the kind referred to in subsection (2) (b) (ii) unless the Minister has entered into an undertaking, on behalf of the State, to indemnify the holder of the licence with respect to the costs incurred by the holder in complying with the requirements of the condition. > > **s 40:** Am 2001 No 18, Sch 1 \[13\].