sec.63Requirement that key person end role

sec.63 Requirement that key person end role

If the chief executive refuses to approve an application for a key person licence made by a person of whom a requirement has been made under section 62 , the chief executive may, by written notice given to the person, require the person to terminate the relevant key relationship within the time stated in the notice. The person must comply with the requirement within the time stated in the notice, unless the person has a reasonable excuse. Maximum penalty—100 penalty units or 1 year’s imprisonment. A person does not incur any liability as a result of action taken to comply with a notice under this section. (sec.63-ssec.1) If the chief executive refuses to approve an application for a key person licence made by a person of whom a requirement has been made under section 62 , the chief executive may, by written notice given to the person, require the person to terminate the relevant key relationship within the time stated in the notice. (sec.63-ssec.2) The person must comply with the requirement within the time stated in the notice, unless the person has a reasonable excuse. Maximum penalty—100 penalty units or 1 year’s imprisonment. (sec.63-ssec.3) A person does not incur any liability as a result of action taken to comply with a notice under this section.