43Regulator must consider applications except in certain circumstances

43 Regulator must consider applications except in certain circumstances

(1) The Regulator must consider an application under section 40 for a licence in accordance with this Part. (2) However, the Regulator is not required to consider the application, or may cease considering the application, if: (a) the application does not contain the information specified by the Regulator or prescribed by the regulations; or (b) the application does not satisfy subsection 40(3); or (c) the application is not accompanied by the application fee (if any) prescribed by the regulations; or (d) the applicant did not provide further information required by the Regulator by notice under section 42 within the period specified in the notice; or (e) the Regulator is satisfied that to issue the licence would be inconsistent with a policy principle in force under section 21; or (f) the Regulator is satisfied (having regard to the matters specified in section 58) that the applicant is not a suitable person to hold a licence. (3) The Regulator must issue the licence, or refuse to issue the licence, within the period (if any) prescribed by the regulations.