32Objection to application

32 Objection to application

(1) An interested person may, by notice in writing to the Commissioner, make an objection to an application for a licence or for renewal of a licence on the grounds that—

(a) in the case of an application made by a natural person, the applicant for the licence or renewal is not a fit and proper person to be the holder of a licence; or

(b) in the case of an application made by a body corporate, one or more directors of the body corporate are not fit and proper persons to be directors of a body corporate that is the holder of a licence; or

(c) the applicant does not or will not comply with the legal obligations referred to in section 23.

(2) A notice of objection under subsection (1) must—

(a) state reasons for the objection; and

(b) be made within 14 days of notice of the application being published under section 17(8) or 29(9).

(3) If the Authority receives a notice of objection under subsection (1) in respect of an application for a licence or for renewal of a licence, the Authority must—

(a) forward a copy of the notice of objection to the applicant as soon as reasonably practicable after receiving the notice; and

(b) allow a period of 14 days from the date of forwarding the notice for the applicant to respond to the notice of objection.

(4) If an objection has been made in respect of an application for a licence or for renewal of a licence—

(a) the Authority must not grant or renew the licence unless the Authority has taken into account the objection and the response of the applicant to the objection (if any); and

(b) if the Authority grants or renews the licence, the Authority must give notice of the grant or renewal to the interested person who made the objection.