48Requirement that unlicensed key person end role

48 Requirement that unlicensed key person end role (a) a person has applied for a key person licence; and (b) the application has been refused. to the person referred to in subsection (1), require the person to end the relevant key relationship within the period stated in the notice. (3) A person must not, without reasonable excuse, fail to comply with a requirement under subsection (2) within the period stated in the notice. Maximum penalty: 100 penalty units, imprisonment for 1 year or

(4) A person does not incur any liability as a result of action taken to comply with a notice under this section.